🚀 After his resignation as CEO of Binance, crypto billionaire Changpeng Zhao also left his position as chairman of the American branch of the company.

🔍 Binance.US confirmed CZ's departure in a post last week addressing various concerns regarding his historic agreement with the Department of Justice.

- From now on, the founder's interest in Binance.US will be "only economic" and he will not take part in the management of the company.

- While Binance.US is officially an independent entity from Binance, several lawsuits from government agencies this year have alleged that both companies are effectively run by CZ.

-The company said it is "not a party" to the agreements announced last week and has "no remaining enforcement matters" with the DOJ, FinCEN, OFAC or CFTC. The case is still ongoing with the Securities and Exchange Commission (SEC).

💰 CZ was found guilty of money laundering violations at Binance last Wednesday and agreed to pay a $50 million fine on top of his exchange's $4.3 billion fine.

🌐 The billionaire has expressed interest in exploring decentralized finance, but has no plans to launch another crypto venture. His sentencing is scheduled for February and his prison sentence is expected to be less than 18 months.