Changpeng 'CZ' Zhao Steps Down From Binance.US Board
Summary
Changpeng 'CZ' Zhao, the founder and former CEO of Binance, has stepped down from his position as the chairman of the board for Binance's U.S. affiliate, Binance.US. He will transfer his voting rights to a proxy and maintain only an economic interest in the company. This move comes after a major settlement between Binance and various U.S. regulators. Binance.US, however, was not part of this settlement as it's a registered business. Binance.US, along with Binance and Zhao, is currently facing enforcement action from the U.S. Securities and Exchange Commission over the alleged offering of unregistered securities to U.S. investors.
