Binance CEO Richard Teng has told media outlet Axios that disgraced founder Changpeng Zhao will never spearhead the company again.
The Department of Justice (DOJ) has actually prohibited Zhao from running Binance for life. Prior to that, some pundits assumed that the ban would last only several years.
Zhao pleaded guilty to enabling money laundering and violating US sanctions.
The highly influential Binance founder agreed to step down as the CEO of the crypto behemoth and shell out a $50 million fine.
In April, Zhao also ended up being sentenced to a total of four months behind bars.
After being initially held in a low-security US federal prison for male inmates in Lompoc, California, the Binance founder was then transferred to a halfway house, which is an institution for people who need educational, social, psychiatric, and other services before being integrated back into society. The former Binance boss is expected…
