Former Binance CEO Changpeng Zhao left the board of directors of the company’s US arm.
According to the statement made by Binance.US, Zhao decided to assign his voting rights in the company to a representative, although he was not part of the agreement reached with the US Department of Justice.
In a statement on the subject, “As CZ enters the post-Binance phase of his life, he has decided to step down from his role as Chairman of the Board, transferring his voting rights to a representative, and his interest in the company is now solely economic and he will no longer be involved in the management of our company.” It was said.
Binance reached a $4.3 billion settlement for violating money laundering and sanctions laws and withdrew completely from the US market. Binance.US, registered in the United States, was not subject to settlement.
The U.S. Securities and Exchange Commission (SEC) has suspended Binance.US. unregistered securities The lawsuit accusing him of providing the service continues.