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Binance.US Exploring Options to Cut Changpeng Zhao’s Stake
Binance.US and CEO Changpeng Zhao are actively exploring strategies to reduce his dominant ownership stake in the company, in what appears to be a pursuit to bolster the company’s reputation and standing with US regulators. Zhao has been trying to sell a portion of his stake since the summer of 2022, The Information reported on May 11, citing two unnamed sources. Binance and Zhao are embroiled in a lawsuit filed by the CFTC in March. The CFTC alleged that Binance operated an “illegal” exchange and maintained a “sham” compliance program. It targeted Binance, Zhao and Samuel Lim, the former compliance chief, ... (full story)
