Changpeng Zhao, the charismatic founder of Binance, was recently released after four months in prison. While his release marks the end of a tumultuous chapter, it also raises questions about his future in the cryptocurrency empire he built.
Obstacles to the comeback
CZ’s release does not necessarily mean he will immediately return to his position as Binance’s leader. Indeed, the terms of his settlement state that he can no longer hold a responsible position at the company.
The provision, highlighted by his lawyers during the trial, was intended to mitigate the sentence but now complicates any attempt to restore direct control.
Richard Teng, Binance’s current CEO, appears to have clung to his position. Any change at this level could be considered a breach of the settlement, potentially exposing CZ and Binance to further legal action.
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There is room for gray areas!
However, the situation is not completely deadlocked. As a major shareholder, CZ still holds significant power over Binance's strategic directions.
The term “guidance” mentioned in the agreement leaves room for interpretation. Theoretically, CZ could influence important decisions without holding an official position.
Furthermore, technically, there is nothing stopping CZ from firing the current CEO and appointing a new one who is more inclined to follow his recommendations. However, such a move could be viewed as provocative by US authorities.
An uncertain future but changing priorities
Despite these theoretical possibilities, CZ’s return to the top of Binance seems unlikely in the short term. His recent statements suggest a certain separation from the company’s day-to-day management.
Just before his detention, CZ launched a charity initiative aimed at providing free education to poor children around the world. This project could indicate a shift in priorities, with CZ possibly looking to improve his image and leave a positive legacy beyond the crypto world.
CZ’s future and his potential involvement with Binance remain uncertain. Between legal constraints and personal developments, the founder of the world’s largest cryptocurrency exchange will have to navigate carefully in the coming months. One thing is certain: the crypto industry will continue to closely monitor the actions of one of its most iconic and controversial figures.
