Binance has strongly denied the rumors that its founder and former CEO Changpeng Zhao (CZ) will return to the company.
SB Şeker, the company's new General Manager for the Asia-Pacific Region, announced that CZ is only retaining his rights as a shareholder and will continue to stay away from management for legal reasons.
CZ’s update of his profile on social media platform X (formerly Twitter) from “ex-@binance” back to “@binance” sparked speculation of a comeback after nearly two years.
As is known, Zhao resigned from his post in November 2023 following a $4.3 billion agreement reached with the US Department of Justice, admitting to violating money laundering laws and paying a $50 million personal penalty.
As part of the agreement, regulatory oversight over Binance was also implemented for three years, and Richard Tang took over the management.
CZ’s comeback claims had a huge impact on the markets, and partly for this reason, the price of Binance Coin (BNB) reached an all-time high, exceeding $1,000.
*This is not investment advice.
