- Changpeng Zhao has reportedly resigned from the Binance.US Board of Directors.
- The erstwhile Binance CEO has besides relinquished his voting rights successful the US affiliate and volition not enactment successful immoderate governance decisions.
Binance.US has announced that Changpeng Zhao, who precocious resigned arsenic the CEO of the planetary crypto speech Binance, has stepped down arsenic Chairman of the Board of Directors.
CZ has besides transferred his voting rights and volition nary longer beryllium progressive successful the US-based crypto platform’s governance, according to a statement posted connected X connected Tuesday.
“As CZ transitions to beingness aft Binance, helium has decided to measurement down from his relation arsenic Chairman of our Board of Directors and transferred his voting rights done a proxy arrangement, whereby his involvement successful the institution is purely economical and helium volition nary longer beryllium progressive successful our governance,” the institution said successful the post.
The update by the Binance.US squad besides pointed retired that portion it whitethorn stock the Binance marque and exertion stack with the planetary institution that agreed a $4.3 cardinal colony with the US authorities, that’s arsenic acold arsenic it goes.
“Binance.US is not a enactment to the settlements announced past week, nor bash we person immoderate outstanding enforcement matters with the DOJ, FinCEN, OFAC, oregon CFTC.”
According to the statement, Binance.US is “fully operational” and volition proceed to service its customers, offering the aforesaid products and services they did earlier the caller developments.
SEC sued Binance and Binance.US
The US Securities and Exchange Commission (SEC) sued Binance, laminitis Changpeng Zhao and its US affiliate Binance.US successful June.
SEC’s charges see allegations that Binance operates unregistered exchanges, broker-dealers and clearing agencies. The world’s largest cryptocurrency speech by trading measurement besides misrepresented trading controls to fto high-value US customers commercialized connected the Binance.com platform.
The regulator besides alleged the crypto platforms offered and sold unregistered securities.
English (US) ·