Changpeng Zhao Stepping Down as CEO from Binance

Changpeng Zhao (CZ) officially stated on his Twitter that he was stepping down as CEO of Binance on November 22, 2023.

Excerpt from Zhangpeng Chao's words on his Twitter:

"Today I stepped down as CEO of Binance. Admittedly, it was not easy to let go emotionally. But I know it is the right thing to do. I made mistakes, and I must take responsibility. This is best for our community, for Binance, and for myself.

Binance is no longer a baby. It is time for me to let it walk and run. I know Binance will continue to grow and excel with the deep bench it has.

On his Twitter, Zhangpeng Chao also announced the new CEO of Binance, namely Richard Teng.

Changpeng Zhao (CZ) officially stated on his Twitter that he was stepping down as CEO of Binance. He will ensure Binance delivers on the next phase of security, transparency, compliance, and growth.

Richard was CEO of the Financial Services Regulatory Authority at Abu Dhabi Global Market (ADGM); Chief Regulatory Officer of the Singapore Exchange (SGX); and Director of Corporate Finance in the Monetary Authority of Singapore.

With Richard and the entire team, Zhangpeng Cao confident that the best days for Binance and the crypto industry lay ahead.

Zhang Peng Cao also explained his future after stepping down as CEO of Binance. In Twitter he snippet: 

"I will take a break first. I have not had a single day of real (phone off) break for the last 6 and half years.

He also current thinking that he will probably do some passive investing, being a minority token/shareholder in startups in areas of blockchain/Web3/DeFi, AI and biotech. He Will be happy because finally he have more time to spend looking at DeFi.

Zhangpeng Chao don't want to be a CEO driving a startup again. Binance was a lucky shot, once in his lifetime as an entrepreneur.

Now Zhangpeng Cao will be listeners, and may be open to being a coach/mentor to a small number of upcoming entrepreneurs, privately. If for nothing else, he can at least tell them what not to do.

"Funds are SAFU!" Zhang explain in slang crypto, it's mean Fund are SAFE.

He look forward to seeing the new leadership take the reins, and hope support for Richard on his well-deserved promotion.

Enjoyed this article? Stay informed by joining our newsletter!


You must be logged in to post a comment.

About Author