'I made mistakes..,’ CEO Changpeng Zhao resigns after pleading guilty to money laundering violations, terror connections
Binance, chief Changpeng Zhao on Wednesday informed that he has stepped down from his position. This comes right after Zhao pleaded guilty to violating US anti-money laundering laws, prosecutors said, as reported by Reuters. In a post on X, Zhao wrote, “Today, I stepped down as CEO of Binance.
Admittedly, it was not easy to let go emotionally. But I know it is the right thing to do." Zhao noted, “I made mistakes, and I must take responsibility. This is best for our community, for Binance, and for myself.
Binance is no longer a baby. It is time for me to let it walk and run. I know Binance will continue to grow and excel with the deep bench it has." Zhao informed that Binance's Head of Regional Markets Richard Teng will replace him as the CEO of Binance.
Also Read: Binance's Changpeng Zhao pleads guilty, steps down to settle US illicit finance probe “I’m pleased to announce that Richard Teng, our now former Global Head of Regional Markets, has been named the new CEO of Binance today. Richard is a highly qualified leader and, with over three decades of financial services and regulatory experience, he will navigate the company through its next period of growth. He will ensure Binance delivers on our next phase of security, transparency, compliance, and growth." Also Read: Binance Founder and CEO pleads guilty, steps down from company.
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