MOSCOW, Nov 21 Founder and CEO of the largest cryptocurrency exchange Binance Changpeng Zhao announced on social network X that he is leaving his post, and will be replaced by the company's former head of regional markets, Richard Teng.
“Today I stepped down as CEO of Binance… I made mistakes and I must take responsibility,” he wrote.
Zhao added that the new CEO will be Richard Teng, now the former head of the regional markets.
The founder of the exchange noted that he wanted to take a break, since he had not had a single day for a break over the past 6.5 years.
Zhao promised to start investing. However, he doesn't see himself as CEO of another startup.
Earlier, US Attorney General Merrick Garland said that the founder of the Binance crypto exchange admitted guilt in violations, the US Department of Justice requires the exchange to pay a $4.3 billion fine.