Binance.US Faces Pivotal Leadership Change As Changpeng ‘CZ’ Zhao Steps Down As Chairman
The founder and former CEO of Binance, Changpeng Zhao (CZ), has resigned as Chairman of the Board of Directors of Binance.US. Despite his departure, Binance.US will continue to operate fully and follows all US regulations, stating that it is not involved in any enforcement issues with DOJ, FinCEN, OFAC or CFTC. CZ will transfer his voting rights through a proxy agreement to ensure the company operates independently with its existing management. Moving forward, its operations will be led by Norman Reed and the management team, and the platform will continue to serve US customers. The implications of CZ's departure on the exchange and the potential effect on its leadership are yet to be determined. After Zhao's resignation announcement, the Binance native token BNB recovered to reach $230, with a 1.8% increase over 24 hours.
