The financial and technology scene was rocked by the surprising announcement from Binance founder and CEO CZ regarding his resignation from his leadership position. CZ, real name Changpeng Zhao, released an official message detailing his departure from the company, citing the need to step back to allow Binance to continue its positive evolution.
''Today I resigned as CEO of Binance. Sure, it wasn't easy to let go emotionally. But I know it's the right thing to do. I've made mistakes and I have to take responsibility for it. It's better for our community, for Binance and for myself.''
This move, while difficult, comes with the announcement that Richard Teng, Binance's former global head of regional markets, has been named the company's new CEO. This transition of power could well reshape the trajectory of one of the largest cryptocurrency exchanges in the world.
CZ also said that as a shareholder and former CEO, he will remain available to advise the team if necessary, in accordance with agreements already established with US regulators.
''What's next for me? I'm going to take a break first. I haven't had a single day of real break (phone off) in 6 and a half years.''
This distancing seems to be crucial for CZ, who expresses the need to take a step back after intensive years of work.
''After this, I currently think that I will probably make passive investments, as a token/minority shareholder in startups in the areas of blockchain/Web3/DeFi, AI and biotechnology. I am happy to 'finally have more time to devote to DeFi.''
CZ is considering future investment in key sectors such as blockchain, artificial intelligence and biotechnology. The move seems like a natural transition, allowing him to remain involved in sectors that have fascinated him while providing a new angle to his entrepreneurial ambitions.
CZ's resignation from Binance marks the end of an era, but also opens the door to new opportunities, both for him and the company. His vision for a future invested in emerging technologies could continue to influence the global economic and technological landscape. Let's wait and see how these developments play out in the months to come, as CZ begins this new chapter in his professional life.
