Changpeng Zhao Permanently Barred from Binance Management

Binance founder and former CEO Changpeng Zhao has been banned for life from managing the cryptocurrency exchange.

It was initially believed that Zhao would not be able to return to Binance for three years. However, it was later revealed that the ban on managing the platform is permanent, Axios reports.

Zhao stepped down as Binance CEO as part of a deal with the US Department of Justice that the parties reached last November. The agreement stated that the founder of the cryptocurrency exchange would be prohibited from “managing or operating” the company.