CZ makes first tweet after release
Co-founder and former CEO of Binance, Changpeng Zhao, often known as CZ, served out his four-month sentence on September 27
Co-founder and former CEO of Binance, Changpeng Zhao, often known as CZ, served out his four-month sentence on September 27 for neglecting to keep the Binance cryptocurrency exchange’s anti-money laundering program up to date.
When Changpeng Zhao sent out his first tweet, BNB, and a few meme assets reacted positively. Rekindled interest in the crypto market spiked in the early hours of Saturday from the former CEO of Binance’s return to social media. Richard Teng, the CEO of Binance was appointed after CZ resigned from queries regarding Zhao’s involvement
CZ’s return to social media was met with a rapid and enthusiastic response from the community. His tweet received significant attention, demonstrating the industry’s ongoing interest in his viewpoint and upcoming projects.
CZ is still a key shareholder in Binance and holds more than 64% of the company’s total BNB supply.
Richard Teng took over as CEO of Binance when CZ departed the company, and he has maintained that CZ remains a shareholder. However, the plea agreement prohibits CZ from being involved in the administration or running of the world’s most popular crypto exchange.
Certainly, Zhao won’t be going back to Binance. In their plea bargain, submitted on November 21, Binance, the cryptocurrency company, stipulated that Zhao could not have “any present or future involvement in operating or managing” the exchange.
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