Binance founder Changpeng Zhao (CZ) is open to selling his controlling stake in the crypto exchange, despite the integral role it plays in his financial standing. Zhao relinquished his CEO position as part of a US Department of Justice settlement, and is now exploring his next chapter while retaining rights tied to his equity in the company.
Since stepping down, Binance has transitioned under the guidance of Richard Teng, a former Abu Dhabi regulator. Zhao’s transition away from Binance follows a plea agreement that included a $4.3 billion penalty and jail time, making him the richest person to ever serve a US prison sentence.
