Former head of Binance exchange Changpeng Zhao considers options for selling his stake in the exchange

In November 2023, Changpeng Zhao, who once led the Binance exchange, pleaded guilty to violating U.S. banking laws.

The court decided to impose a penalty of a $50 million fine and four months of imprisonment. However, Zhao was released on September 27.

In an interview with Bloomberg, the former exchange leader confirmed that he received an offer to sell a controlling stake in Binance but declined to disclose details of the negotiations with the potential buyer.

Binance shares constitute a significant part of Zhao's assets, which are estimated to be worth $53 billion. After the elections in the U.S., Zhao's fortune increased by $12 billion.

Zhao expressed his willingness to consider any offer but refused to disclose the terms of the deal he might agree to. He also did not comment on the results of the elections in the U.S. but expressed support for Elon Musk, who is successfully promoting the social network X.