‘I want everyone to keep doing amazing things.’
After Binance CEO Changpeng “CZ” Zhao stepped down on November 21st, he pleaded guilty to violating anti-money laundering laws and sent a statement to the company's employees via the messaging platform.
CZ's letter started circulating on social media on November 22. He also said that “Binance will be good”, but hinted at restructuring.
EXCLUSIVE: Binance founder Zhao Changpeng CZ releases internal letter saying “I have to endure some pain but I will survive” citing Star Trek (2009). pic.twitter.com/m9w4hywIPm
— Wu Blockchain (@WuBlockchain) November 22, 2023
CZ also dropped a quote from the popular science fiction series Star Trek:
“I want everyone to continue doing amazing work.”
They also asked “Binans” to welcome and support the new CEO Richard Teng and said they would attend the upcoming town hall and formally hand over to Teng.
Teng was previously head of regional markets outside the United States at Binance. As previously reported, CZ commented that Teng is a “highly competent leader” and will help the company in the next period of growth.
Related: CZ, Buterin, Dorsey top crypto social media popularity charts while SBF ranks 10th
CZ will now post $175 million bail and has agreed to return to the US two weeks before his sentencing on February 23, 2023. This will allow him to return to his home in Dubai.
The former Binance CEO also put $15 million into a separate trust account, agreeing to forfeit the money if he didn't meet bond conditions.
The US has reached an agreement with Binance for a $4.3 billion settlement and plea deal with CZ, ending several civil and criminal investigations that have dogged the exchange over the past year.
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