Binance’s CZ: ‘I Made Mistakes’, Confirms Richard Teng Will Takeover as CEO

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Binance’s CZ: ‘I Made Mistakes’, Confirms Richard Teng Will Takeover as CEO

Role

Founder and CEO of Binance

Location

Cayman Islands

Education

McGill University

Current Project

Binance

Previous Projects

BijieTech, Blockchain, Fusion Systems, Bloomberg

Binance founder Changpeng Zhao has resigned as CEO, and confirmed that Richard Teng will take over the role.

Binance founder Changpeng Zhao (aka “CZ”) has officially resigned as CEO of Binance, he said in a tweet Tuesday, as the United States Department of Justice announced charges against Zhao and the exchange.

“I made mistakes, and I must take responsibility,” Zhao wrote. “This is best for our community, for Binance, and for myself.”

Zhao tweeted that Richard Teng, previously Binance’s Global Head of Regional Markets, will take over as CEO.

This story is breaking and will be updated with additional details.