• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Changpeng Zhao Stays Influential in Binance Despite Management Ban

user avatar

by Giorgi Kostiuk

a year ago

  1. Management Ban and Its Impact
  2. Legal Ambiguity
  3. Shift to Educational Ventures


    4. Despite being banned from managing Binance, former CEO Changpeng Zhao retains significant influence in the company as its major shareholder. He has also shifted his focus to educational projects.

    Management Ban and Its Impact

    Under an agreement with the U.S. Department of Justice, Changpeng Zhao is prohibited from 'managing or operating' Binance. Initially reported as a three-year ban, Binance CEO Richard Teng confirmed it is a lifetime ban from management.

    Legal Ambiguity

    Legal experts suggest the language of the agreement leaves room for interpretation, allowing Zhao to retain some influence through consulting or influencing key decisions. Richard Teng emphasized Zhao retains all shareholder rights, including the ability to nominate board members and replace executives.

    CZ, of course, obviously being the largest shareholder, will retain all shareholder rights.Richard Teng

    Shift to Educational Ventures

    Following his departure from Binance, Changpeng Zhao has focused on educational projects. In March 2024, he unveiled Giggle Academy on his X page, a platform providing free basic education to underprivileged children. The platform uses a gamified, adaptive approach and rewards progress with non-fungible token badges, avoiding cryptocurrencies.

    Despite the management ban, Changpeng Zhao retains significant influence through his shareholder rights at Binance and is now focusing on new educational initiatives, aiming to establish a broader legacy beyond the crypto industry.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Emergence of Environmentally Friendly Blockchains

chest

Emergence of environmentally friendly blockchains focuses on reducing environmental impact and improving sustainability through new technologies like Solana and Algorand.

user avatarLi Weicheng

Green Cryptocurrencies and Business Strategies

chest

Businesses are adopting eco-friendly cryptocurrencies as part of their long-term development strategies.

user avatarMaya Lundqvist

The Importance of Preserving Credit History

chest

Strategies to maintain the length of credit history and the impact of account closures on credit scores.

user avatarElias Mukuru

Understanding Credit Score Mechanics

chest

An overview of how credit scoring algorithms prioritize financial behavior and the importance of payment history and credit utilization.

user avatarKenji Takahashi

Nine Expert Techniques for Optimizing Credit Scores

chest

A comprehensive checklist of nine strategies designed to enhance credit scores by focusing on key scoring factors.

user avatarDiego Alvarez

Magic Eden Launches Automated Buyback Program

chest

Magic Eden has launched an automated buyback program that allocates 30% of secondary market revenue for buybacks of ME tokens and NFTs, aiming to increase buy pressure and enhance community engagement.

user avatarMaria Fernandez

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.