Changpeng Zhao Leaves Binance.US Board of Directors
Changpeng “CZ” Zhao, the former CEO of the cryptocurrency exchange Binance, will be stepping down from his role as chair of the board of directors for Binance.US, the United States-based exchange.
This news comes after the $4.3 billion settlement between Binance, CZ, and US officials was announced on Nov. 21.
Despite Binance.US not being involved in the settlement, CZ has agreed to relinquish his role as chair and will no longer be involved in the governance of the exchange.
His voting rights have been transferred through a proxy. In a recent post on X (formerly Twitter), Binance.US reassured its users that they were not affected by the settlement and expressed gratitude for CZ’s guidance and support throughout the years.
The exchange is currently under the leadership of Norman Reed and its experienced management team.
