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In a significant development on Tuesday, November 28, Changpeng Zhao (CZ), the founder and former CEO of Binance, has decided to step down as chairman of the board for Binance’s US affiliate. Binance.US made this announcement through a tweet, clarifying that the US affiliate was not part of the recent substantial
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Changpeng Zhao, commonly known as “CZ,” has stepped down as Chairman of Binance.US’s Board of Directors. The recent announcement by Binance.US regarding Changpeng Zhao, known as “CZ,” is stepping down as Chairman of its Board of Directors, marking a significant moment in the cryptocurrency sector. The company stated, “As [Zhao] transitions to
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Changpeng “CZ” Zhao, the former CEO of major cryptocurrency exchange Binance, will also step down from his position as chair of the board of directors for United States-based exchange Binance.US.In a Nov. 28 X — formerly Twitter — post, Binance.US reminded users the exchange was not a party to the
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"That said, as CZ transitions to life after Binance, he has decided to step down from his role as Chairman of our Board of Directors and transferred his voting rights through a proxy arrangement, whereby his interest in the company is purely economic and he will no longer be involved
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The former head of Binance, Changpeng Zhao, hinted at newfound interests beyond running the exchange. In a Nov. 27 post on X the former CEO of Binance says he is “thinking about how to use crypto to accelerate research funding” in biotech. Been reading about biotech, thinking about how to
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Changpeng “CZ” Zhao, who pleaded guilty to one felony charge as part of a settlement with the United States Department of Justice involving crypto exchange Binance, may not be permitted to leave the country as he awaits sentencing.According to a Nov. 27 filing in U.S. District Court for the Western
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The U.S. Justice Department hinted that Changpeng Zhao, Binance’s founder and former CEO of Binance, could potentially spend up to a decade in prison. A recent DOJ court filing not only reinforced restrictions on Zhao’s travel but also unveiled the possibility of a potential 10-year prison sentence. This development unfolds
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"Based on all the relevant facts, including Mr. Zhao's voluntary self-surrender, his intent to resolve this case, and the sizable bail package he proposed, Judge Tsuchida found that Mr. Zhao presents no risk of flight, even while residing in the UAE," last week's filing said. Original Source
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A recent court filing suggests that Changpeng "CZ" Zhao's legal challenges are just beginning, despite pleading guilty to violating the United States Anti-Money Laundering requirements in a settlement with the Department of Justice. Zhao is expected to be sentenced in February 2024. He is currently challenging the government's efforts to prevent
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Binance CEO Changpeng Zhao has agreed to pay $4.3 billion to settle money laundering allegations with U.S. authorities. This significant settlement will impact Binance’s net worth and likely affect the price of its native token, BNB. Investors are already reacting to the news, with BNB declining by over 17%. Investors seeking
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