Can Binance & Changpeng Zhao lower his stake?

Binance.US and its founder Changpeng Zhao are exploring ways to lower his stake in the crypto exchange, The Information reported on Thursday , citing two people familiar with the matter. Zhao has been trying to sell part of his stake since last summer, one of the people said.

Who is Binance CEO Changpeng Zhao?

Link Copied! Changpeng Zhao, widely known asCZ, is the chief executive of Binance. The US partner of global cryptocurrency exchange Binance has confirmed that a trading firm managed by Binance CEO Changpeng Zhao operated as a market maker on its platform.

Did Zhao & Binance falsely claim a US cryptocurrency exchange banned US customers?

The SEC says that Zhao and Binance, which was founded in Shanghai but has since moved out of China after the country banned cryptocurrency trades, falsely claimed the exchange banned US customers when in fact the company was secretly allowing traders access to the exchange.

Did Binance violate US regulations?

The US Securities and Exchange Commission has filed a total of 13 charges against Binance in US federal court. The core of the SEC’s complaint against Binance and CEO Changpeng Zhao is that the company knowingly skirted US regulations and deceived US investors and regulators about how it was operating its exchange.