• 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

Meme Coin Investor Shares Successful DCA Strategy with SPX

chest

A meme coin investor named Maddox shares his successful dollar-cost averaging (DCA) strategy with SPX, showing how consistent buying can reduce drawdowns in a down market.

user avatarSatoshi Nakamura

Canada Implements New Crypto Custody Rules

chest

The Canadian Investment Regulatory Organization (CIRO) has introduced an interim Digital Asset Custody Framework to enhance oversight of crypto assets on trading platforms.

user avatarNguyen Van Long

CFTC Rescinds Proposal, Opens Door for Political Betting Contracts

chest

The Commodity Futures Trading Commission (CFTC) has rescinded the Bidenera proposal, allowing contracts for political contests, gaming, and war, marking a shift towards free market principles.

user avatarJesper Sørensen

Bhutan's Sovereign Wealth Fund Moves $22 Million in Bitcoin

chest

The Royal Government of Bhutan's Druk Holding Investments has deposited approximately $22 million worth of Bitcoin into exchange deposit addresses.

user avatarRajesh Kumar

OnChain Mind Analyzes Bitcoin's Potential Bear Market Bottom

chest

OnChain Mind suggests that Bitcoin may be approaching a bear market bottom, but further downside could be necessary.

user avatarLucas Weissmann

Recent Market Correction Severely Affects Proxy Bettors

chest

The recent market correction has severely affected proxy bettors, particularly those invested in MicroStrategy and related public pension funds.

user avatarFilippo Romano

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.