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– Advertisement – Binance founder Changpeng Zhao (known as “CZ”) officially resigned as the CEO of Binance, as he announced in a tweet on Tuesday. Zhao resigned from his position as part of an agreement made with the United States Department of Justice. In the tweet, Zhao mentioned his intention to take a break before turning his focus to other areas of interest around the crypto and technology industries. Binance CEO Changpeng Zhao announces his resignation from the exchange: Zhao, who revealed the new CEO, also discussed his plans. Binance CEO Changpeng Zhao Submits Resignation Binance founder Changpeng Zhao (known as “CZ”) officially announced in a tweet on Tuesday that he is resigning as the CEO of Binance and the US Department of Justice revealed charges against Zhao and the exchange. Zhao said, “I have made mistakes and should take responsibility. This is the best for our community, Binance, and myself.” Zhao tweeted that Richard Teng, formerly Binance’s President of Global Markets, would assume the role of CEO. Teng joined Binance as CEO for Singapore in 2021 and was appointed to his current role in May of this year. Zhao continued his words as follows: “Richard is an extremely qualified leader with over three decades of experience in the financial services and regulatory space, and he will lead the company through a growth period. He will ensure Binance delivers on security, transparency, compliance, and growth in the next phase.” Zhao resigned from his position as part of an agreement made with the United States Department of Justice and is barred from serving as an executive at Binance for at least three years until an independent monitor is appointed. However, he still holds the majority ownership of Binance, and the exchange will continue its operations outside the United States. What are…

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Filed under: News - @ November 22, 2023 3:30 pm