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CZ Steps Down as Chairman of Binance US

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Changpeng Zhao, the founder of Binance, has resigned as the Chairman of Binance Holdings Ltd, the U.S. branch of the global exchange. He not only stepped down from his role but also transferred his voting shares through a proxy arrangement, indicating a separation from governance. Binance US clarified it was not part of the recent $4.3 billion settlement by the global exchange with U.S. regulatory bodies. The announcement has sparked speculation about potential regulatory pressures on Zhao. Binance US assured that the leadership transition won't impact its operations, emphasizing commitment to growth, compliance, and business expansion. Meanwhile, Zhao has expressed stability and plans to focus on new research ventures with crypto funding.