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<ul class="wp-block-list news-points">
 <li>Zhao banned from Binance management, but retains influence as the largest shareholder.</li>
 <li>Binance restructures board to enhance governance amidst regulatory challenges.</li>
 <li>Zhao plans new investments in blockchain, AI, and biotech after Binance exit.</li>
</ul>
Changpeng Zhao, founder and former CEO of Binance, has <a href="https://www.axios.com/pro/fintech-deals/2024/09/04/binance-influence-changpeng-zhao" target="_blank" rel="noopener noreferrer nofollow">officially </a>stepped down, marking the end of his leadership at one of the world’s largest cryptocurrency exchanges. This move comes as part of a legal settlement with U.S. authorities after Zhao faced multiple charges related to regulatory violations.&nbsp;
The <a href="https://coinedition.com/court-rules-changpeng-zhaos-4-month-sentence-prosecutors-criticize/?utm_source=telegram_channel&amp;utm_medium=referral" rel="noopener noreferrer nofollow">charges</a> include selling unregistered securities, market manipulation, and failing to implement adequate anti-money laundering measures. As part of the agreement, Zhao is banned for life from holding any management role within Binance. His exit signals a significant shift in Binance’s operations as it now faces intensified regulatory scrutiny.
Read also: <a href="https://coinedition.com/binance-founder-cz-faces-legal-battle-over-ignorance-claims" rel="noopener noreferrer nofollow">Binance Founder CZ Faces Legal Battle Over Ignorance Claims</a>
Richard Teng, who has taken over as CEO, confirmed Zhao’s lifetime ban as a key condition of the settlement with U.S. regulators. Although Zhao is no longer involved in Binance’s daily managem…
The post <a href="https://coinedition.com/binance-ceo-reveals-czs-lifetime-ban-a-major-blow/" rel="noopener noreferrer nofollow">Binance CEO Reveals CZ’s Lifetime Ban: A Major Blow</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Binance CEO Reveals CZ’s Lifetime Ban: A Major Blow

Coin Edition

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