Binance CEO Wants to Withdraw?

Binance founder Changpeng Zhao revealed he is ready to step down from his current position if there is a better successor especially in carrying out his responsibilities as the newest executive officer.

The statement was announced in a virtual press conference yesterday.

Clearly, he wants Binance to be a legally legitimate financial institution in the future and hopes his successor has a background in law.

In fact, they also have plans to further expand the market by establishing several headquarters in several countries and will apply for licenses if available.

However, this does not mean that the more friendly figure known as CZ will resign in the near future:

“I will continue to contribute to Binance and the BNB ecosystem. I don't have to be CEO to do that ”.

Meanwhile, July saw Binance hit by regulatory bodies in several countries including Japan, the United Kingdom (UK) and South Africa over concerns if it was closely linked to money laundering or fraudulent activities.

Not only that, financial division authorities in Britain, Germany, Hong Kong, Italy, Lithuania and Thailand have also begun voicing concerns about Binance.

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