• 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

Cross-Chain Flexibility of CoinAvatar's Platform

chest

CoinAvatar operates across multiple blockchain networks, allowing users to create coins with minimal gas fees.

user avatarLi Weicheng

South Korea Raises Foreign Currency Bond Issuance Cap to $5 Billion

chest

South Korea raises its foreign currency bond issuance cap to $5 billion to attract investors and stabilize its currency.

user avatarRajesh Kumar

Toobit Enhances Trading Capabilities with Altrady Integration

chest

Toobit enhances its trading platform by integrating with Altrady, introducing advanced automation tools.

user avatarLucas Weissmann

Market Conditions and Developments Affecting XRP's Outlook

chest

Ongoing developments, including a decline in XRP supply on exchanges and evolving regulatory conditions, may impact the accuracy of Google Gemini's projection.

user avatarFilippo Romano

Canary Capital CEO Critiques Zcash and Promotes Litecoin

chest

Steven McClurg, CEO of Canary Capital, critiques Zcash's price surge as a 'pump and dump' and promotes Litecoin for its compliance features.

user avatarEmily Carter

Digital Asset Treasuries Lead Crypto Stock Recovery

chest

Digital asset treasuries, particularly Ether DATs, have shown significant recovery in the stock market following a leverage flush at the beginning of the month.

user avatarTomas Novak

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.