Nov 29, 2023

Binance.US announced in a post on X (formerly Twitter) Tuesday that Binance founder and former CEO Changpeng Zhao is stepping down from the board of the global exchange's U.S. affiliate.

Video transcript

B US announced yesterday that CZ would be stepping down from his role as the, uh you know, he is the majority owner of the company and the member of the board. Uh he said he's going to put his voting shares into a proxy. Uh So he'll still, it sounds like he'll still own, you know, his shares, what he has, but he will not take an active role in, you know, directing any decisions about finance us, uh which is, of course, the, you know, us affiliated uh of the, you know, global Binance entity. Um So we'll see what that means in practice, but it, as you say, it doesn't seem like a huge surprise given that CZ is, you know, already had to resign as the CEO of finance itself and, you know, dramatically stepped back from his role with that company.

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.