Changpeng Zhao (CZ) Former CEO of Binance is banned from managing and operating the exchange
According to a US court ruling Former CEO of Binance CZ won’t be able to manage or operate Binance
As a part of an plea deal agreed on November 23, 2023 prosecutors agreed to lower the sentence on terms he won’t be a part of the managing team at Binance anymore.
Former Binance CEO Changpeng Zhao stepped down as CEO and was replaced by Richard Teng.
Current Binance CEO Richard Teng said CZ got a lifetime ban from managing binance and currently serving sentence at a US prison.
In November last year US authorities agreed to settle the with Binance for $4.3 billion dollars where CZ was found guilty for violating Bank Secrecy Act.
Court sentenced Former CEO CZ four months in prison he is expected to be released on September 29 , 2024.