Binance founder Changpeng Zhao (aka “CZ”) has officially resigned as CEO of Binance, following the United States Department of Justice’s announcement of charges against Zhao and the exchange. Zhao tweeted that Richard Teng, previously Binance’s Global Head of Regional Markets, will take over as CEO. This is bad news for the cryptocurrency exchange, as Zhao resigns to take responsibility for his mistakes. It remains unclear what the future holds for Binance, but Richard Teng’s appointment as CEO will hopefully bring stability to the exchange.
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You can read more about this topic here: Decrypt: Binance’s CZ: ‘I Made Mistakes’, Confirms Richard Teng Will Takeover as CEO