Binance CEO CZ Pleas Guilty, Steps Down, Case Settled for $4.3B

Binance, the world’s largest digital asset trading platform, witnessed a management upheaval with its co-founder and CEO, Changpeng ‘CZ’ Zhao, stepping down. As current Binance CEO CZ steps down, Richard Teng, the firm’s head of regional markets outside of the United States, has been named as the new chief executive. On the other hand, the exchange also settled its dispute with the Department of Justice (DoJ).

Related reading: Bitcoin Plunges Below $26,000 As SEC Sues Binance

In a post on social media platform X, Zhao confirmed his departure, stating that Binance is no longer a “baby” and that it was time for him to “let it walk and run.” CZ also confirmed…

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