Changpeng Zhao, the founder of Binance, has addressed recent rumors regarding his role within the company, asserting that he remains solely in an advisory capacity. According to the official information, this statement comes in the wake of his settlement with U.S. regulators, which required him to step down as CEO.
Zhao Clarifies Executive Role
In a post on X, Zhao clarified that he is not taking on any new executive roles, countering reports that suggested otherwise. Binance's official communications have confirmed that he continues to be a shareholder but has no executive responsibilities. His advisory role also includes involvement in Project Aster, ensuring his ongoing influence in the cryptocurrency industry.
Market Reaction to Zhao's Statements
Following Zhao's clarification, the price of BNB surged by 5%, accompanied by a notable increase in trading volume, indicating the market's responsiveness to his statements. Analysts highlight that the cryptocurrency community remains vigilant, closely watching Zhao's comments for any signs of potential changes within Binance's leadership structure, although no official announcements have been made regarding such shifts.
As Changpeng Zhao clarifies his role at Binance, TikTok is also facing significant changes in its ownership structure to comply with U.S. regulations. For more details, see ownership changes.
