Binance.US Chairman Steps Down, Reducing Influence
Last week, Changpeng Zhao (CZ) resigned as the chairman of the board of directors for Binance.US. This move effectively eliminates his control over Binance.US’s governance and signifies that his involvement with the U.S. branch of the exchange is now purely driven by economic interests.
CZ’s Activity After Stepping Down
Since stepping down as Binance CEO and pleading guilty, CZ has remained active on social media platform X. In the past week, he has shared updates about his lunch, reposted content from the new Binance CEO Richard Teng, and discussed the importance of taking risks.
CZ’s Risky Move 10 Years Ago
In a recent post, CZ reflected on a significant decision he made a decade ago. He revealed that he had quit his job, sold his house, and heavily invested in Bitcoin. However, CZ emphasized that he was not advising others to take the same risks. He acknowledged that everyone’s risk profile is different and urged readers to prioritize risk management.
About the Author
Sarah is a reporter at The Block who specializes in covering policy, regulation, and legal developments within the cryptocurrency industry. Previously, she worked as a reporter for CQ Legal, where she focused on securities regulation and began her coverage of crypto. Sarah has also contributed to finance-related publications such as The Bond Buyer and American Banker. She holds a degree in print and digital journalism from the University of Missouri and is based in Washington D.C. You can find her on Twitter @ForTheWynn.
Hot Take: CZ’s Risk-Taking Advice
Changpeng Zhao’s story of taking significant risks in the past serves as a reminder that the cryptocurrency industry often requires bold moves. However, it is crucial to approach risk management strategically and consider individual risk profiles. While CZ’s journey may have been successful, blindly following such actions can lead to unfavorable outcomes. Therefore, it is essential for crypto enthusiasts to assess their risk tolerance and make informed decisions based on their own circumstances.
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