CZ wants to reduce its stake in Binance.us : TheInformation

Changpeng Zhao, CEO and founder of Binance – RoyalsBlue.com ©.

Changpeng Zhao would seek to sell ” at least ” one part of his participation in the cryptocurrency exchange platform Binance.us.

Since the summer of 2022, the founder and CEO of BinanceChangpeng Zhao, seeks to reduce his share in Binance.usa platform launched in 2019 and dedicated to the U.S. market in which it is a majority shareholder, reports TheInformationciting people close to the case.

Recently, the regulator CFTC has launched a lawsuit against the crypto mogul and his company Binance, accusing him of violating its rules. “The CFTC filed a civil suit unexpected and disappointing, despite our collaboration,” commented Changpeng Zhao at the time.

Binance.us executives discussed how a decrease in CZ’s stake could help “ Improve the company’s standing in the eyes of U.S. regulators “, again according to the anonymous sources.

Late April, Binance.US cancelled the buyout of the crypto platform Voyager Digital due to the “hostile and uncertain” regulatory climate in the United States.

Uncertainty over crypto regulation has now pushed a number of players away from the US. The pioneer and rival Coinbase recently opened a new platform based in Bermuda.

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