Richard

The founder of the largest cryptocurrency exchange Binance, Changpeng Zhao, published an internal letter to company employees on Nov. 21. 
The Binance CEO’s swan song comes after a landmark decision by the U.S. Department of Justice that will see the company pay a $4.3 billion fine and the replacement of the crypto exchange’s erudite founder. 
In <a href="https://t.me/wublockchainenglish/10514" target="_blank">his address</a>, Zhao cited a quote from the movie Star Trek, noting that “I will have to deal with some pain, but will survive.” He also asked the company employees to “continue performing admirably.” 
<figure class="wp-block-image size-full">
 <img decoding="async" loading="lazy" width="680" height="526" src="https://crypto.news/app/uploads/2023/11/2023-11-22-10.10.22.jpg" alt="Binance's&nbsp;Changpeng Zhao says he 'will survive' in internal memo - 28" class="wp-image-14218781">
 <figcaption class="wp-element-caption">
 Source: <a href="https://t.me/wublockchainenglish/10514" target="_blank">WuBlockchain</a>
 </figcaption>
</figure> 
Zhao also admitted that he had a difficult day due to jet lag and an inability to use his phone since he spent the entire day in court. 
At the same time, he promised that everything would be fine with Binance, with Zhao admitting that he needed a break anyway. 
As part of a landmark <a href="https://crypto.news/binance-ceo-changpeng-zhao-steps-down-with-response-to-the-sec-following-guilty-plea/" data-type="link" data-id="https://crypto.news/binance-ceo-changpeng-zhao-steps-down-with-response-to-the-sec-following-guilty-plea/">settlement</a> with the US Department of Justice on Nov. 21, Zhao is prohibited from holding a leadership position at Binance for at least three years after the appointment of an independent monitor. However, he is still the majority owner of Binance. 
As per the settlement, Richard Teng will replace Zhao as CEO. Teng joined Binance in 2021 as CEO in Singapore and was promoted to his current role as Head of Regional Markets in May of this year. 
 You might also like: <a href="https://crypto.news/crypto-market-jumps-amid-possible-end-to-u-s-criminal-probe-of-binance/"> Crypto market jumps amid possible end to U.S. criminal probe of Binance </a>

Binance’s Changpeng Zhao says he ‘will survive’ in internal memo

crypto.news

Other articles published on Nov 22, 2023

Did Binance's CZ predict his own downfall?

Coinbase CEO Brian Armstrong goes on the offensive amidst Binance legal woes

Diamond Launch (DLC) Price Prediction 2024, 2025, 2030, 2040, and 2050

Bitcoin Rally Seems To Fade Off! Will The Approval Of BitcoinETF Ignite A Bull Run?

What Are The 100x Top Meme Coins Of 2023 That Deserve Your Attention? Exploring Shiba Inu, Dogeco...

Nansen reports continued withdrawals from Binance

Join our free newsletter for daily crypto updates!