📉 The former head of Binance, Changpeng "CZ" Zhao, is stepping down as chairman of the board of directors of the American crypto exchange Binance.US.

- On November 28, Binance.US reported that it was not involved in the $4.3 billion settlement between Binance, CZ and US authorities.

- Zhao will transfer his voting rights by proxy and will no longer participate in the management of Binance.US.

- Binance.US will continue to operate under the leadership of Norman Reed and an experienced management team.

We will monitor developments.