Binance CEO confirms: CZ has been banned from managing or operating Binance for life

Odaily News Binance has banned former CEO Changpeng Zhao (CZ) from running the company for life, but as a major shareholder, he will still have a strong say in the company. Binance's plea agreement with the Department of Justice in November left a lot of room for vague interpretation, when it said Zhao was banned from "managing or operating" the company, and CEO Richard Teng confirmed that this was indeed a lifetime ban. At the same time, Teng said that of course, CZ is obviously the largest shareholder and will retain all shareholder rights. As a shareholder, he will pay attention to the company's performance. If things don't meet his expectations, as an investor, he always has the right to replace, nominate a new board of directors or a new CEO... Shareholders can always propose resolutions. (Axios)