The former CEO of the world's largest crypto exchange is already planning his next steps in the cryptocurrency sector after pleading guilty to criminal charges in the United States and moving ONE away from the most influential roles in the cryptocurrency sector: run Binance.
Read more: Binance to pay $4.3 billion to resolve US allegations; Changpeng 'CZ' Zhao resigns as CEO, pleads guilty in Seattle
Changpeng "CZ" Zhao said in a post on social media platform X (formerly Twitter) that he will not be leaving the space completely. “My current thinking is that I will probably do some passive investing, being a token/minority shareholder in startups in areas of blockchain/Web3/DeFi, AI and biotech.”
"I'm happy to finally have more time to spend analyzing DeFi," he added.
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.Binance is no longer a baby. It is…
— CZ 🔶 Binance (@cz_binance) November 21, 2023
He also said he probably won't be CEO of another startup again, but will be open to coaching or mentoring a small number of future entrepreneurs, privately. CZ noted that he will remain a Binance shareholder and will be available in a consulting role if needed.
CZ, who founded the exchange in 2017, is replaced by Richard Teng, who previously oversaw the exchange's regional business outside the US.
Read more: After CZ resigns as Binance CEO, Richard Teng LOOKS the heir apparent
