Zhao Steps Down as Binance US Chair in Fallout From DOJ Settlement
- Zhao has transferred his Binance.US voting rights via a proxy
- He relinquished his global CEO role last week in DOJ plea deal
Zhao Changpeng
Photographer: Benjamin Girette/BloombergThis article is for subscribers only.
Billionaire Changpeng Zhao stepped down as chairman of crypto exchange Binance.US a week after pleading guilty to Department of Justice charges and relinquishing his chief executive officer role at Binance’s global business.
Zhao retains an economic interest in Binance.US but has transferred his voting rights via a proxy arrangement and will no longer be involved in governance, the platform said Tuesday in a post on social media service X.