CZ Steps Down as Chairman of Binance.US: What's Next?

Significant changes are underway at Binance.US. Following his resignation as CEO of Binance, crypto billionaire Changpeng Zhao has now stepped down as the chairman of the board of directors at Binance.US. This marks a further step in a series of recent developments affecting the cryptocurrency exchange.

Binance.US confirmed today that its founder, Changpeng Zhao (CZ), has resigned as Chairman of the Board of Directors. The announcement was made on the evening, signaling a pivotal moment for the company's future direction.

Changpeng “CZ” Zhao, the former CEO of major cryptocurrency exchange Binance, will also step down from his position as chair of the board of directors for the United States arm, Binance.US. This decision comes amid ongoing regulatory scrutiny and aims to ensure Binance.US can operate independently and navigate the evolving regulatory landscape.

CZ Zhao steps down as chairman of the Board at Binance.US, surrendering voting rights through a proxy arrangement. This move effectively relinquishes his control over the day-to-day operations and strategic decisions of the US-based exchange.

Binance.US expresses gratitude for Zhao's contributions and leadership during his tenure. While details regarding his successor remain undisclosed, the company has assured users of its commitment to a seamless transition and continued service.

This latest development regarding CZ's departure from Binance.US raises questions about the future strategy and governance of the exchange. Experts are closely watching how Binance.US will adapt and operate under new leadership, particularly in light of ongoing regulatory pressures. Stay tuned for further updates on this developing story.