{"id":202359,"date":"2023-11-28T22:32:53","date_gmt":"2023-11-28T17:02:53","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=202359"},"modified":"2023-11-28T22:32:53","modified_gmt":"2023-11-28T17:02:53","slug":"changpeng-zhao-steps-down-as-binance-us-chair-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/changpeng-zhao-steps-down-as-binance-us-chair-crypto-news\/","title":{"rendered":"Changpeng Zhao steps down as Binance.US chair – Crypto News"},"content":{"rendered":"
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Changpeng \u201cCZ\u201d Zhao, the former CEO of major cryptocurrency exchange Binance, will also step down from his position as chair of the board of directors for the United States-based exchange Binance.US.<\/p>\n

In a Nov. 28 X (formerly Twitter) post, Binance.US reminded<\/a> users the exchange was not a party to the $4.3-billion settlement<\/a> between U.S. officials, Binance and CZ announced on Nov. 21. However, Zhao agreed to step down as chair and \u201cwill no longer be involved\u201d in the governance of Binance.US, transferring his voting rights through a proxy.<\/p>\n

\u201cWe are exceptionally grateful to CZ for his guidance and counsel over the years,\u201d said the exchange. \u201cBinance.US continues to be led by Norman Reed and our existing, experienced management team.\u201d<\/p>\n

\n

We wanted to provide an update to the https:\/\/t.co\/AZwoBOgsqS<\/a> community in light of last week\u2019s news regarding CZ and https:\/\/t.co\/IZwa5M2U8b<\/a>.<\/p>\n

As you know, https:\/\/t.co\/AZwoBOgsqS<\/a> was launched with the express purpose of serving United States customers in accordance with all\u2026<\/p>\n

\u2014 Binance.US (@BinanceUS) November 28, 2023<\/a><\/p><\/blockquote>\n

At the time of publication, Zhao had not publicly commented on his decision to step down. His last reply on X said<\/a> he had \u201ca lot more free time\u201d since resigning as Binance CEO.<\/p>\n

Related: <\/em><\/strong>Binance CEO outlines plan for crypto exchange after CZ steps down<\/em><\/strong><\/a><\/p>\n

On Nov. 21, Zhao pleaded guilty to one felony count<\/a> for failure to maintain an effective Anti-Money Laundering program during his time as Binance CEO. The court is currently weighing whether CZ will be allowed to travel<\/a> to the United Arab Emirates while awaiting sentencing. The former Binance CEO could face up to 18 months in prison.<\/p>\n

Binance.US, while not a party to the settlement with the U.S. Justice Department, faces a lawsuit filed in June<\/a> by the Securities and Exchange Commission against the crypto exchange, Binance and CZ. The commission was reportedly investigating whether Binance.US<\/a> had a backdoor to control user assets \u2014 similar to what happened at FTX.<\/p>\n

Magazine: <\/em><\/strong>US enforcement agencies are turning up the heat on crypto-related crime<\/em><\/strong><\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Changpeng \u201cCZ\u201d Zhao, the former CEO of major cryptocurrency exchange Binance, will also step down from his position as chair of the board of directors for the United States-based exchange Binance.US. In a Nov. 28 X (formerly Twitter) post, Binance.US reminded users the exchange was not a party to the $4.3-billion settlement between U.S. officials, […]<\/p>\n","protected":false},"author":2,"featured_media":202360,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-202359","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/202359","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=202359"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/202359\/revisions"}],"predecessor-version":[{"id":202362,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/202359\/revisions\/202362"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/202360"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=202359"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=202359"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=202359"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}