Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Binance Smart Chain + Ecosystem => Topic started by: Coinpedia Fintech News on May 13, 2023, 11:45:29 AM
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It seems like Binance.US is considering reducing the stake of its founder and CEO, Changpeng Zhao. Apparently, this is part of a plan to shift the company's ownership, and it might have to do with some regulatory challenges that Binance and Zhao are facing.
The US Commodity Futures Trading Commission (CFTC) filed a lawsuit against them, accusing them of running an "illegal" exchange and not having a good compliance program. According to insider sources, reducing Zhao's stake could be a way to improve Binance.US's standing with US regulators.