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-based exchange Binance.US.
In a Nov. 28 X (formerly Twitter) post, Binance.US reminded users the exchange was not a party to the $4.3-billion settlement between U.S. officials, Binance and CZ announced on Nov. 21. However, Zhao agreed to step down as chair and “will no longer be involved” in the governance of Binance.US, transferring his voting rights through a proxy.