tldr; Changpeng Zhao, the founder and former CEO of Binance, has stepped down following a legal settlement with U.S. authorities over multiple regulatory violations, including selling unregistered securities and failing to implement anti-money laundering measures. As part of the settlement, Zhao is banned for life from holding any management role within Binance, marking a significant shift in the company’s operations amidst increased regulatory scrutiny. Richard Teng has taken over as CEO, confirming Zhao’s lifetime ban as a key condition of the settlement.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Far-Professor2373 on
Truly decentralized
monoimionom on
I… I… I don’t care.
supercali45 on
He will start another exchange and people will give him more money
Bear-Bull-Pig on
He can enjoy early retirement
pedalhead666 on
Oh no, anyway.
debtfreegoal on
Is Binance located in the US? I really thought it was overseas.
LosingMoneyMorePB on
Good he was manipulating the exchange anyways
fairlyaveragetrader on
It was part of why he only got 4 months. What isn’t known is if there’s any kind of language preventing him from starting another exchange, so on and so forth. If there isn’t I would expect him to start another exchange within the year
11 Comments
tldr; Changpeng Zhao, the founder and former CEO of Binance, has stepped down following a legal settlement with U.S. authorities over multiple regulatory violations, including selling unregistered securities and failing to implement anti-money laundering measures. As part of the settlement, Zhao is banned for life from holding any management role within Binance, marking a significant shift in the company’s operations amidst increased regulatory scrutiny. Richard Teng has taken over as CEO, confirming Zhao’s lifetime ban as a key condition of the settlement.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Truly decentralized
I… I… I don’t care.
He will start another exchange and people will give him more money
He can enjoy early retirement
Oh no, anyway.
Is Binance located in the US? I really thought it was overseas.
Good he was manipulating the exchange anyways
It was part of why he only got 4 months. What isn’t known is if there’s any kind of language preventing him from starting another exchange, so on and so forth. If there isn’t I would expect him to start another exchange within the year
Permanent safu
lol sucker