{"id":202387,"date":"2023-11-28T23:48:03","date_gmt":"2023-11-28T18:18:03","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=202387"},"modified":"2023-11-28T23:48:03","modified_gmt":"2023-11-28T18:18:03","slug":"cz-steps-down-as-chairman-from-binance-us-board-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/cz-steps-down-as-chairman-from-binance-us-board-crypto-news\/","title":{"rendered":"CZ Steps Down As Chairman From Binance.US Board &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p>Following his resignation as CEO of Binance, crypto billionaire Changpeng Zhao has now stepped down as the chairman of the board of directors at Binance.US \u2013 the exchange giant\u2019s American arm.<\/p>\n<ul>\n<li>Binance.US <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/BinanceUS\/status\/1729530641526435859\" data-wpel-link=\"external\">confirmed<\/a> CZ\u2019s exit in a post to X on Tuesday, addressing various concerns related to the Justice Department\u2019s <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cryptopotato.com\/doj-announces-4-3-billion-settlement-with-binance-as-cz-resigns-from-company\/\" data-wpel-link=\"internal\">historic settlement<\/a> with its parent company last week.<\/li>\n<li>\u201c[CZ] has decided to step down from his role as Chairman of our Board of Directors and transferred his voting rights through a proxy arrangement,\u201d wrote the company. From now on, the founder\u2019s interest in Binance.US will be \u201cpurely economic\u201d leaving him uninvolved in the firm\u2019s governance.<\/li>\n<li>Binance.US is formally an independent entity from Binance, though various lawsuits from government agencies this year have alleged that both firms were effectively run by CZ. Binance.US maintains that it operates \u201cindependently of Binance.com.\u201d<\/li>\n<li>The company noted that it was \u201cnot a party\u201d to the settlements announced last week, nor does it face \u201cany outstanding enforcement matters with the DOJ, FinCEN, OFAC, or CFTC.\u201d Its lawsuit with the Securities and Exchange Commission (SEC) is still ongoing.<\/li>\n<li>CZ pleaded guilty to anti-money laundering violations at Binance last Wednesday and agreed to pay a $50 million fine alongside his exchange\u2019s whopping $4.3 billion penalty.<\/li>\n<li>The billionaire has since expressed interest in exploring decentralized finance, though he has no further plans to launch another crypto venture. His <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cryptopotato.com\/cz-released-on-175m-bond-here-are-his-bail-terms\/\" data-wpel-link=\"internal\">sentencing<\/a> is scheduled in February, which is expected to be less than 18 months in prison.<\/li>\n<\/ul>\n<div class=\"code-block code-block-12\" style=\"margin: 8px 0;clear: both\">\n<div><span style=\"font-size:11px;color: gray\">SPECIAL OFFER (Sponsored)<\/span><br \/>\n<b>Binance Free $100 (Exclusive): <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cryptopotato.com\/pl\/binancebanner\" data-wpel-link=\"internal\">Use this link<\/a> to register and receive $100 free and 10% off fees on Binance Futures first month<\/b> (<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cryptopotato.com\/buy-bitcoin-5-easy-steps\/\" data-wpel-link=\"internal\">terms<\/a>).<\/div>\n<\/div>\n<p><!-- AI CONTENT END 1 --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Following his resignation as CEO of Binance, crypto billionaire Changpeng Zhao has now stepped down as the chairman of the board of directors at Binance.US \u2013 the exchange giant\u2019s American arm. Binance.US confirmed CZ\u2019s exit in a post to X on Tuesday, addressing various concerns related to the Justice Department\u2019s historic settlement with its parent [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":48767,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-202387","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/202387","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=202387"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/202387\/revisions"}],"predecessor-version":[{"id":202393,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/202387\/revisions\/202393"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/48767"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=202387"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=202387"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=202387"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}