Price: $0.19505 -2.7473%
Market Cap: 28.61B 1.1376%
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Price: $0.19505 -2.7473%
Market Cap: 28.61B 1.1376%
Volume (24h): 4.26B 0.2%
Dominance: 1.1376% 1.1376%
  • Price: $0.19505 -2.7473%
  • Market Cap: 28.61B 1.1376%
  • Volume (24h): 4.26B 0.2%
  • Dominance: 1.1376% 1.1376%
  • Price: $0.19505 -2.7473%
Home > Information news > Former Binance CEO Changpeng Zhao (CZ) Seems to Have Signaled He’s Quitting 2 Days Ago

Former Binance CEO Changpeng Zhao (CZ) Seems to Have Signaled He’s Quitting 2 Days Ago

Release: 2023/11/22 16:05 Reading: 771

Original author:Bitcoin Sistemi

Original source:https://coinmarketcap.com/community/articles/655daf20c9adc4368d099572

Former Binance CEO Changpeng Zhao (CZ) Seems to Have Signaled He’s Quitting 2 Days Ago

Changpeng Zhao, the founder of the cryptocurrency exchange Binance, announced his resignation yesterday evening. This development comes after Binance accepted the US Department of Justice's $4.3 billion fine and the charges against Zhao.

Related News: BREAKING: Binance CEO CZ to Step Down as CEO Following US Investigations

Two days before the announcement, Zhao, also known as “CZ,” posted a cryptic tweet that now appears prophetic. Regarding Sam Altman's situation at OpenAI, Zhao commented, “Knowing when to give up control of a company you founded is one of the most difficult decisions.”

Related News: Bitcoin Exchange Binance US to Justin Sun Shock! These Altcoins Are Being Delisted!

Zhao agreed to plead guilty to charges of failing to comply with US anti-money laundering regulations. He will pay a $50 million penalty as part of the agreement. Binance itself will also plead guilty and pay a total fine of $4.3 billion.

Related News: Bitcoin (BTC) Forecast from Anti-Crypto Peter Schiff: Get Ready for This!

However, as part of CZ's agreement with the government, Binance will be allowed to continue operations once the fines are paid and Zhao resigns. Zhao will not be an executive at Binance for three years. Zhao announced that he had no intention of returning to the company again.

Related News: Loaded Bitcoin (BTC) Transfer from Giant Whale: Bringing it to the Stock Exchange!

In his statement, Zhao announced that he would now make passive investments and hold minority tokens in startups in the fields of blockchain/Web3/DeFi, AI and biotechnology.

Related News: Elon Musk Has Done It Again: Price Jump With Dogecoin Tweet!

*This is not investment advice.

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