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CZ declares he is open to selling his stake in Binance
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Binance founder Changpeng Zhao, known as CZ, recently revealed that he is open to selling his majority stake in the world’s largest cryptocurrency exchange.
In an interview with Bloomberg, CZ confirmed that he had received proposals to buy his share of Binance, but did not reveal details about the potential buyers, values or whether he actually intends to close a deal soon.
This news piques the interest of the crypto community and reinforces rumors about significant changes to Binance’s leadership structure.
With an estimated fortune of US$53 billion, CZ consolidated his wealth, in large part, due to his stake in Binance. After the last US presidential election alone, his wealth increased by more than $12 billion, according to the Bloomberg Billionaires Index. This appreciation shows the strength of the crypto market and the direct impact of decisions made by leaders like CZ on the sector.
Binance
Despite the financial relevance of his stake in Binance, CZ highlighted that he does not feel the need to maintain it indefinitely. This open stance towards a possible sale signals that the businessman is evaluating his options and may consider a new direction, although no action has been taken so far.
CZ’s willingness to review proposals indicates a change in focus and could suggest that Binance is preparing for new steps, possibly with renewed leadership.
Binance’s current scenario is also marked by regulatory challenges. In November 2023, CZ pleaded guilty to a violation of the United States Bank Secrecy Act. As part of a settlement with the US Department of Justice, he paid a $50 million fine and agreed to step down as CEO of Binance.
After serving a brief sentence, CZ was released in September 2024. These events increase speculation about the continuity of his connection with the company and reinforce the possibility of a sale of his stake.
CZ declares he is open to selling his stake in Binance
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CZ declares he is open to selling his stake in Binance
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CZ declares he is open to selling his stake in Binance
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CZ declares he is open to selling his stake in Binance
