Binance Founder Zhao Contemplates Selling His Stakes in the Exchange

Changpeng Zhao (CZ), the founder of Binance, returned to Dubai after completing his prison sentence in the United States at the end of September. In an interview with Bloomberg, he revealed that he has received offers for his shares in Binance. When asked whether he has made a decision regarding selling his shares following his departure from the company, CZ has not yet disclosed his final decision. This situation has raised the question in the crypto world: "Will CZ completely sever ties with Binance?"

In the interview, Zhao stated, "I have always been satisfied with my role in the company, but it might be the end of an era." He indicated reluctance to return to his previous position, emphasizing, "That kid has grown up now. I am just like any other shareholder." He highlighted that he is no longer taking an active role in the company.

Without going into details about the potential sale of his shares, CZ commented, "I have received some offers, but so far there has been no development." The prominent executive noted that the process of clarifying his position at Binance has not yet concluded.

CZ also expressed that he does not find comparisons with former FTX CEO Sam Bankman-Fried (SBF) appropriate. Highlighting that SBF misused customer funds, Zhao remarked, "He stole people's money. I, on the other hand, failed in regulatory compliance. These are not the same thing."

Changpeng Zhao, the former CEO of Binance, stated that he currently has no decision-making authority within the exchange and expressed that his role in the company is entirely at the shareholder level.