/send

<div class="protos">
 <div>
  <div>
   <div>
    <p>Crypto exchange Binance US has announced that Changpeng Zhao (CZ) will resign as chairman of the board and transfer his voting rights — but in its hurry to point out that it’s not under scrutiny by US agencies like the CFTC, Binance US forgot to mention its own SEC enforcement action.</p>
    <p>“As <a rel="noopener noreferrer nofollow" title="CZ" href="https://thebittimes.com/tag/cz.html">CZ</a> transitions to life after Binance, he has decided to step down from his role as Chairman of our Board of Directors and <a rel="noopener noreferrer nofollow" title="transfer" href="https://thebittimes.com/tag/transfer.html">transfer</a>red his <a rel="noopener noreferrer nofollow" title="voting" href="https://thebittimes.com/tag/voting.html">voting</a> right through a proxy arrangement,” <a rel="noopener noreferrer nofollow" title="Binance US" href="https://thebittimes.com/tag/binance-us.html">Binance US</a> wrote on X on Tuesday, “whereby his interest in the company is purely economic and <strong>he will no longer be involved in our governance</strong>.”</p>
    <p>According to the announcement, the US-based crypto exchange remains “fully operational” and “well capitalized” after <a rel="noopener noreferrer nofollow" title="CZ" href="https://thebittimes.com/tag/cz.html">CZ</a>’s decision to sever ties — even claiming the event has provided “renewed clarity and momentum.”</p>
    <p>The news comes after CZ and Binance pled guilty to federal crimes and the 46-year-old was required to step down as CEO. Binance US wasn’t named in that particular Securities and Exchange Commission’s (SEC) lawsuit — both entities <em>claim </em>to operate independently.</p>
    <figure class="wp-block-embed is-type-wp-embed is-provider-protos wp-block-embed-protos">
     <div class="wp-block-embed__wrapper">
      <blockquote class="wp-embedded-content" data-secret="ysqckWzv5k">
       Binance US users no longer able to make USD withdrawals
      </blockquote><iframe class="wp-embedded-content" sandbox="allow-scripts" security="restricted" style="position: absolute; clip: rect(1px, 1px, 1px, 1px);" title="“Binance US users no longer able to make USD withdrawals” — Protos" src="https://protos.com/binance-us-users-no-longer-able-to-make-usd-withdrawals/embed/#?secret=1C3DdW9UaL#?secret=ysqckWzv5k" data-secret="ysqckWzv5k" width="500" height="282" frameborder="0" marginwidth="0" marginheight="0" scrolling="no"></iframe>
     </div>
    </figure>
    <p><em>Read more: Binance US still relies on Binance for custody through Ceffu</em></p>
    <p>The exchange was quick to point this out in its announcement post. “Binance US is not a party to the settlements announced last week, nor do we have any outstanding enforcement matters with the DOJ, FinCEN, OFAC, or CFTC,” its post read.</p>
    <p>However, <strong>Binance US seems to have forgotten that it faces its own SEC enforcement action</strong> for offering unregistered securities — in which Binance and CZ are also named. The case is ongoing.</p>
    <p><em>Got a tip? Send us an email or ProtonMail. For more informed news, follow us on&nbsp;X,&nbsp;</em><em>Instagram</em><em>,&nbsp;</em><em>Bluesky</em><em>, and&nbsp;</em><em>Google News</em><em>, or subscribe to our&nbsp;</em><em>YouTube</em><em>&nbsp;channel.</em></p>
   </div>
  </div>
 </div>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/changpeng-zhao-resigns-from-binance-us-board-transfers-voting-rights-tbt71953.html">https://thebittimes.com/changpeng-zhao-resigns-from-binance-us-board-transfers-voting-rights-tbt71953.html</a></p>

Changpeng Zhao resigns from Binance US board, transfers voting rights

TheBitTimes

Other articles published on Nov 28, 2023

Bitcoin (BTC) Price Analysis: Technicals Looming Large During Pullback – 29 November 2023

Unusual Binance Listing Strategy Uncovered

DOGE hits milestone of 5 million addresses with balance

Binance.US: CZ steps down as board chairman days after pleading guilty

CZ, Binance and the Need for Trustless Blockchain Systems

Major Exchange Delisting Causes Steep Drop in Value for This Crypto

Join our free newsletter for daily crypto updates!