Topic: Changpeng Zhao (CZ) has resigned as Binance CEO. (Read 466 times)

It is for sure part of their asset and shares and that's why they have decided to pay it with a slash to the asset that they have. It's worth billions and that's easy for them to liquidate which comes likely in Bitcoin and other cryptos that they own.

They are a crypto exchange so it makes sense that they've done to liquidate it with their crypto assets. I don't have idea if they've got real estates or other tangible assets. But they are also investor of some companies that they've supported. So, it's like a combination of crypto and many shares that they have to other companies they are affiliated with.

I think around October 17, 2022, Binance Exchange launched one of its new products, which they called "Coinmarketcap Index." During that period, there was a topic created regarding their CMC index (although I did create just a short topic about that product), but from that topic as of then, some made a statement, where he said that "whatever Binance is doing is basically for their own interest; they first of all consider what percentage of profit they will make and they make sure they are earning more than the public. If he is actually guilty of all the claims, then he should pay the consequences.

I wonder who's going to pay 4 billion $. Definitely not CZ out of his own pocket.

Can I have some cheap BTC buying opportunity (like FTX last year), pretty plz?

CZ should have been put in jail along with curly Sam

These two shenanigans are deserved it

Also, if not willing to leave the company, Chinese businessmen place people they can trust to run their companies for them. CZ can give the CEO an email message to give his orders hehehe.

The next bullish storyline for the cryptospace that might pump markets might be the return of CZ heheheh.



Yes, Richard Teng does not have a pleasing personality similar to He Yi.

If some company can afford it, it's definitely binance. But i don't believe that even they have that kind of money lying around. Large sums of money are usually tied to something. company shares, real estates,  subsidiares or cryptos and stuff like that.

Question is: what assets will they be liquidating to afford it, and if it's cryptos, i am hoping they are doing otc trades, because 4.3 billion sell pressure is enough to tank almost anything.

Yes, they can afford to pay that and they've got more money for sure because if they're able to pay and settle with that fine. It only means that they have a bigger pocket and that won't make them bankrupt because of it. And on this expenses, this isn't a loss for them but they can treat it as an investment and settlement because their operations can now go without interruption and you know that it's just like a public under the table matter.

If it happens with a smaller exchange, they won't pay that fine and let alone the US government and SEC follow them wherever they are.

How do the followers of the great leader feel now that the authorities expelled him from the US and when he paid for his freedom as much as $4.3 billion? Until yesterday he was someone they worshiped, today he is just an ordinary criminal who is free because he had enough money to pay for his freedom.

Do you think it's over now? This is just the beginning, because what that company did in the US, it did in the rest of the world. CZ stepped down from the position of CEO only to avoid what will probably happen in other countries, and now the only question is which is the next country from which he will have to leave.

That's actually one of the more positive things that he did.  


Lol, you really think that he won't have a final say on everything Binance related just because he is not CEO anymore? Keep in mind that he will remaain the owner of Binance so take a guess whether he will accept BSV back.

This is creepy.  I do not want to know what becomes of Binance now.  I do not know who is the next CEO of the Exchange but if they are some body who is still against United States regulation then I doubt they will be courageous enough to continue doing against the will of the States.

If they are some body who is pro United States regulation then Binance is done for I believe.  I would immediately withdraw ANY funds from their Exchange.

Nothing?

CZ was was just a face for the company. He probably did more PR than the actual PR department of the company. It is a very hard job and maybe he wants to retire and enjoy his wealth. The hardest part of making money is the ability to say "enough". If you can't say it, you will forever participate in the rat race no matter how rich you become. It is a never ending road unless you say the magic word: "enough".

The new CEO will hopefully be as good as CZ and binance will continue to be the #1 exchange in the world.

It seems i can't withdraw fiat money from there right now, so that's a huge red flag.

I am pretty sure that if Binance has enough money to opertate after this, they just tighten their AML policy. That will make some users mad, as more accounts will be frozen then ever before. That alone will cause fud and people will be angry, but not as angry as towards SBF as not everyone will lose all their money.

But he is most likely going to jail as an example if it's believable to the court/judge that he knowingly broke AML laws, but it's harder to point out it was his intention.
And penalty of that size would hint jail time as well.

I know i've been wrong before, but like i pointed out in other threat that i don't believe this is in any way bullish news. If binance needs to liquidate their assets to pay the bills, it takes down both btc and alts. If that seems unlikely, do a graphical comparison of 4.3 million dollars and 4.3 billions to get visualization of the difference. Billion just too much for our brains to grasp.

Well to be honest Bitcoin SV totally deserved it. Graig is not Satoshi. Attacking to pseudonyms in the net didn't help.

I think this large amount($4.3 billion) being imposed on Binance would now go into history as the seventh-highest financial fine ever recorded. You can check the top high financial fines charged here and where the Binance CEO now falls in.

With this latest development of Binance's CEO resigning because of pleading guilty to money laundering, I think the crypto space is getting sanitized from one man who is heading it all as the most influential being in the crypto space. As it always is, no single billionaire will remain on top for long. That's why you will find them getting into problems because of people's money they have siphoned from their exchange.

Finally justice has been served. F*cking scammer CZ is admitted that he is a scammer

We remember how this scammer CZ with a smile on his face delisted our coin and called us shit


We hope we can agree on the listing again with the new CEO of Binance. We hope he will be more political correct with his words on Twitter unlike scammer CZ

Richard Teng - is a new CEO of Binance

Leaving the US market, as bad as it is for Binance, but sooner or later they would have done it, and then the regulatory pressures on them would be much less than now, and perhaps all the steps that Binance took to prevent this failed, and they ended up paying a fine and leaving the market completely. Let’s see how that will affect the platform, even though I I rule out anything bad happening at the moment.

Let's just say it was the cost of neutralizing his name and (perhaps) a last ditch attempt to cut off further "terror" by the authorities. However, this guy will always be known as extraordinary in the history of the crypto industry as he managed to keep his company in the top position for many years before being abandoned.

Unfortunately you have to be disappointed, CZ in his farewell tweet with Binance named Richard Teng as his replacement.

Binance will continue and there will be a new CEO for binance.com. I wish it will be the cofounder He Yi hehehehe.



We cannot be certain what would happen to binance.us, however.

Also, this is the last clown standing and the saviour of the cryptospace hehehehee.

What was exactly did they violate and what's the full story on the violation? I want to read more about this, pretty crazy to think that even Binance isn't as indomitable as it is when the US government is on its toes. $4 billion is a pretty big number but I am sure that Binance would probably take that loss headstrong, they're the biggest global market after all. I just that this is definitely the end of investigation and I hope that Binance will do something about this to prevent it from happening again. CZ now got all the time in the world to enjoy retirement, I just hope he doesn't end up like other big names who talk loudly about stuff after stepping down from a higher position.

His contributions in the crypto space is just too many that enthusiasts and those supporters of Binance are thanking him.
TBH, centralized exchanges are taking a big hit for the last months already. Poloniex getting hacked, Coinex getting hacked, FTX scamming their customers, Gemini is also having a problem, Bittrex closing down etc. I wonder what will happen to other popular exchanges like Kucoin and others.

I just woke up a few hours ago, and this is what I saw in my phone notifications. TBH, I'm not surprised because after the FTX fiasco, I already expected that there's a chance that something bad happens with Binance as well (of course no one will believe me ). I guess it's already a good thing that they aren't freezing any withdrawals (for now), but this news affected the market negatively. CZ said in his tweet that he will focus more on start-ups that's related to Web3, AI and others, so I guess he's fine.

The question is what will happen to Binance now that they will have a new CEO. Will he follows what CZ has done or he will do differently. One thing more is that, how this will affect the reputation of the whole exchange, or will it have an effect. Currently BNB is down 11% already while Bitcoin is down 3%. It's too early, but I guess this type of news isn't like other negative news in the past that will affect the market negatively up to the point that all of the top coins will go down in price by double-digit percentage.