For over 6 years, Mr. Zhao has put in all his energy into one important and only mission: FREEDOM OF MONEY.
CZ became a symbol of hope for the crypto community. A symbol of transparency for the industry. He pushed for crypto adoption and by extension web3 at every opportunity and ensure the company, Binance invests heavily in education.
Over the years, the mantra has been "USERS FIRST" and "BUIDL". Binance became the largest exchange in the work through the hard work of CZ and his team.
Building the products through both bear and bull seasons has been a core strength with many users choosing Binance as the best exchange.
CZ's transparency and leadership is unmatched. This is why he is loved and will be solely missed by the crypto community. Under his watch, Binance has educated millions through Binance Academy and carried out a lot off humanitarian works through Binance Charity.
However, we have nothing to worry about. Binance stands firm on its core foundation and ideologies. Building will not stop as the company is now being led by an excellent leader, Richard Teng who has over 3 decades of experience.
Read CZ's words below 👇
"Today, I stepped down as CEO of Binance. Admittedly, it was not easy to let go emotionally. But I know it is the right thing to do. I made mistakes, and I must take responsibility. This is best for our community, for Binance, and for myself."
"Binance is no longer a baby. It is time for me to let it walk and run. I know Binance will continue to grow and excel with the deep bench it has."
"I’m pleased to announce that @_RichardTeng, our now former Global Head of Regional Markets, has been named the new CEO of Binance today."
"Richard is a highly qualified leader and, with over three decades of financial services and regulatory experience, he will navigate the company through its next period of growth. He will ensure Binance delivers on our next phase of security, transparency, compliance, and growth."
"Prior to joining Binance, Richard was CEO of the Financial Services Regulatory Authority at Abu Dhabi Global Market (ADGM); Chief Regulatory Officer of the Singapore Exchange (SGX); and Director of Corporate Finance in the Monetary Authority of Singapore."
"With Richard and the entire team, I’m confident that the best days for @Binance and the crypto industry lay ahead."
"As a shareholder and former CEO with historical knowledge of our company, I will remain available to the team to consult as needed, consistent with the framework set out in our U.S. agency resolutions."
"What’s next for me?"
"I will take a break first. I have not had a single day of real (phone off) break for the last 6 and half years."
"After that, my current thinking is I will probably do some passive investing, being a minority token/shareholder in startups in areas of blockchain/Web3/DeFi, AI and biotech. I am happy that I will finally have more time to spend looking at DeFi."
"I can’t see myself being a CEO driving a startup again. I am content being an one-shot (lucky) entrepreneur. Should there be listeners, I may be open to being a coach/mentor to a small number of upcoming entrepreneurs, privately. If for nothing else, I can at least tell them what not to do."
On that note, I am proud to point out that in our resolutions with the U.S. agencies they:
- do not allege that Binance misappropriated any user funds, and
- do not allege that Binance engaged in any market manipulation.
"Funds are SAFU!"
"With that, I look forward to seeing the new leadership take the reins. Please join me in congratulating Richard on his well-deserved promotion."
Onwards!"
CZ"
We wish CZ the very best in his next chapter and congratulate the new Binance CEO on his promotion. #Binance ...Exchange the World.
- Kazz