Binance Founder Receives Offer to Buy His Stake in Binance: Details
Changpeng Zhao, known as “CZ,” the founder and former CEO of Binance, revealed that he received an offer to sell his stake in the company, but did not specify the identity of the party making the offer.
CZ, who owns 90% of Binance’s shares, is worth an estimated $61 billion, according to Forbes.
Despite his willingness to consider new offers, CZ has not yet made a decision on how long he will retain his stake in the company.
He made it clear in his statements that he does not intend to return to the position of CEO, as he considered that chapter of his life to be over, describing Binance as having matured and become an independent entity.
He also referred to his current role as a regular shareholder, expressing his desire to reduce his personal influence in the company, especially after the US authorities decided to prevent him from managing the company again.
CZ previously faced a prison sentence after admitting to violating anti-money laundering rules.
He said that during his imprisonment, prisoners called him the Big Bitcoin Man, and some sought his investment advice, as he developed a relationship with a prisoner who specialized in bank robbery crimes and was familiar with the world of crypto.
