Changpeng Zhao resigns from Binance US board, transfers voting rights
Crypto exchange Binance US has announced that Changpeng Zhao (CZ) will resign as chairman of the board and transfer his voting rights — but in its hurry to point out that it’s not under scrutiny by US agencies like the CFTC, Binance US forgot to mention its own SEC enforcement action. “As CZ transitions to life after Binance, he has decided to step down from his role as Chairman of our Board of Directors and transfer red his voting right through a proxy arrangement,” Binance US wrote on X on Tuesday, “whereby his interest in the company is purely economic and he will no longer be involved in our governance .” According to the announcement, the US-based crypto exchange remains “fully operational” and “well capitalized” after CZ ’s decision to sever ties — even claiming the event has provided “renewed clarity and momentum.” The news comes after CZ and Binance pled guilty to federal crimes and the 46...