Former Binance CEO Changpeng Zhao announced his resignation from the cryptocurrency exchange in a post on X.

The news of the resignation itself is not new, following the publishing of the Binance plea deal by the Department of Justice earlier today. As part of the deal, he was barred from maintaining a role at the company for a period of three years.

“Today, I stepped down as CEO of Binance. Admittedly, it was not easy to let go emotionally. But I know it is the right thing to do. I made mistakes, and I must take responsibility. This is best for our community, for Binance, and for myself,” Zhao said.

Richard Teng, currently serving as Binance’s head of regional markets, will take…

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