Richard Teng, Binance's new CEO, confirmed that Zhao Changpeng was permanently banned from holding senior positions at the company, rather than the three-year ban stipulated in the previous agreement. In an interview with Axios, Teng said that Zhao Changpeng is expected to be released from prison at the end of September, but under the adjusted agreement, he will never be able to return to Binance.

Although it was not clear whether this was an internal decision of Binance or a change in the agreement with US officials, Teng revealed that Zhao Changpeng is still the largest shareholder of Binance, owning about 90% of the shares and an estimated wealth of up to $61 billion. Despite being unable to participate in the company's daily operations, Zhao Changpeng still retains influence on the company's strategy, can make suggestions, and even influence the appointment of the board of directors and CEO.

Previously, Zhao Changpeng served 4 months in prison for money laundering at Binance and paid a fine of $4.3 billion as part of an agreement with the US Department of Justice.

Since Teng took office, Binance has implemented a number of reforms to ensure compliance, while emphasizing that the company is financially stable and has no plans for an IPO.