Changpeng Zhao, the former CEO of Binance, has officially announced that he will not be returning to the cryptocurrency exchange, even after being granted a presidential pardon by Donald Trump. In a recent interview with CNBC, Zhao stated that he has no intention of resuming his position at Binance, emphasizing the importance of allowing new leadership to flourish.
Zhao reflected on his decision to step down, describing it as a challenging choice at the time. However, he now views it as a beneficial move for both himself and the organization. He remarked, “I haven”t really needed to go back. I didn”t really want to,” highlighting his belief that Binance is thriving under its current management.
Under the leadership of Richard Teng and Yi He, Binance has continued to grow, recently reporting a user base exceeding 300 million. Furthermore, the exchange recorded an impressive trading volume of $34 trillion in 2023, showcasing its robust performance post-Zhao.
Despite receiving a pardon for his previous legal issues concerning anti-money laundering regulations, Zhao clarified that his decision to remain out of Binance”s operations was voluntary. He stated, “It was a pretty good way for me to step down after seven years,” indicating his desire for others to take the reins and lead the company forward.
Looking ahead, Zhao expressed optimism about the future of Bitcoin, predicting a potential supercycle by 2026. He mentioned that a combination of increasing global support for cryptocurrency and favorable U.S. policies could lead to unprecedented growth in the market.
Zhao”s emphasis on non-involvement suggests a strategic shift in his role, where he remains a passive shareholder and provides insights through social media rather than direct management. This approach reflects his confidence in Binance”s current leadership team and their ability to drive the company to new heights.
As the cryptocurrency landscape continues to evolve, Zhao”s insights on market trends and regulatory developments will likely remain influential among investors and industry watchers alike.
