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What a shocking event this morning when CZ resigned as CEO and replaced by Richard Teng as the new CEO. With the SEC plead guilty issue of CZ. Well this si unexpected news knowing CZ built the Binance so strong. Anyway with the new CEO possible new eras and new beggining for Binance.

Check the Binance announcement for complete story.

https://www.binance.com/en/blog/leadership/binance-announcement-reaching-resolution-with-us-regulators-2904832835382364558

My view if Changing positions may be a normal thing in a large company for improvement and future performance, but if that happens until CZ resigns, it would be sad and have an impact on the exchange's reputation as well, but what concerns us is that many people lack information regarding the nature of the SEC claim and the resolution. achieved.

A company need to do replacement immediately once their former CEO got affected for many serious controversy so that it can't disrupt their operation and it continue to serve their clients who's still using their services.

But I don't think CZ will totally go away with Binance since for sure they still have a control on developments of this exchange, Maybe he just decide to step out so he can focus to fight back the possible cases that might filled to him.

For now we don't see any huge effect on the market but let see if there are more development of his case and what action will be taken by government against cz. For now we don't need to worry about binance since they are running fine and already place a news CEO that handle their business, but let see if they can still provide the same quality service and will not became a shitty exchange.

Probably still one of the biggest investor of Binance. Surely he will still post about the progress and development of the exchange. He will be like the new ELON shills. But he mentioned he will explore defi so expect some pumps on alts that will be touch by him.

Expect some more launchpad projects that will enter binance as new ceo will likely drive the price as it goes down by more than 10%

According to the announcement from CZ, everything is in the process of transferring power, which I think is difficult to avoid when CZ's activities over the past years in the crypto market have been unpleasant for some parties behind. I remember a case about Arthur Hayes, everything will become a thing of the past over time. And above all, after the news of this event, we don't feel this clearly enough to cause FUD, perhaps all agreements will soon be exposed.
It is possible that the process of transferring power in the crypto market is gradually undergoing innovation, as during the development process we have also witnessed the birth of many new products to replace old products, and this time It is unlikely that Binance will continue to maintain their position.

If Richard Teng will be a figurehead CEO or will respond or follow the same policy as CZ, nothing will change as the company will continue with the same policy, but if he decides to do something different, it may directly affect altcoins and less impact on Bitcoin, as it changes inclusion or deletion policies. Currencies or Binance Launchpad will change the prices of altcoins.

CZ will still be there to make decisions for Binance in one way or the other. And he is human if human. If he is pleaded guilty, he might have taken responsibility for others actions and not only his. Binance is a big company with different departments and branches. So, he is not the only one making decisions. But lets see how Binance will be managed with the new CEO. And Remember, Elon resigned as CEO of twitter but we hardly talk about the new CEO cos we still feel like Elon controls twitter.

This is a very terrible news for the company Binance, due to the criminal act practiced by CZ the founder, the company's reputation is already at the top of a Cliff and it decides to crash down due to the negative response from their customers. I can't even imaging how careless a CEO would perform when their company is one of the top exchanges in the world, having a very excellent reputation and trust worthy. It reminds us once more that no exchange is worthy of holding your coins for you, but rather just use them according to their name as an exchange and nothing more.

companies often consists of multiple people in power
a ceo might be the highest position but there’s still board of directors that have a say on what will be the best for the company maybe they thought putting in a new ceo is for the better they’re probably trying to restore confidence as a company

CZ stepped down as ceo but this doesn’t mean he won’t have any sense of control anymore in the company seemingly as the founder of binance

I'd found it normal while CZ is facing a hard situation and of course, to just let Binance continue their operation with the other person who manages it while the case isn't settled down.

Well, with the remarkable background of the new leader and CEO, we can still have confidence that Binance will remain strong and still in the right direction. I was certain that Mr. Teng as the new CEO knows the best thing to do in order to avoid such issues again. Might CZ be at fault for not anticipating the situation but his contribution is huge enough that every Binance user will forget.

While everyone was talking about CZ, Binance, and the SEC, Kraken again got noticed by the SEC. They are now being accused of operating an unregistered platform, they again got sued. The SEC is now acting as a bully trying to fine cryptocurrency exchange for everything. After the ETFs were filed by big financial institutions the SEC has been going constantly after cryptocurrency exchanges that were or are operating in the US. It does look like there is a hidden agenda behind all of this happening in the US.

In regards to CZ, he has stepped down because he had no other choice. He still holds control of his exchange and has nothing to lose if he pays the fine and settles this problem out of court. There is nothing guaranteed though, as such issues will again come up maybe next year. 

In my opinion, CZ is not completely going to throw away BINANCE, of course CZ is still running behind the scenes. because there are frequent controversies with the SEC who want to control the best BINANCE market in the world. market sacrifice from zero to being trusted by a large community, project partners. It's not easy to let go of the market  fighting for

What I hope right now is there will be no changes regarding their rules and regulations because lots of people are using their platforms especially their convenient exchanges which is the best for me overall. Maybe this is just one of their way to further improve their exchanges and other platforms because the competition in the crypto market has been tight recently and with the SEC pressuring them against something, they are force to make some surprise move in order to preserve the company and also to protect their reputations.

I guess, the binance new CEO will do better than the previous CEO because he will like to bring some new policy that will make binance users to begin to see new changes with new results that will encourage others people to change their minds to use binance. With the help of this new binance CEO, it will help the team to eliminate many court case that is affecting the binance for their users not to invest more money on binance than to wait for the court case to be eliminate from the court before they can have full confident to increase their capital in binance.

Richard Teng  will surely introduce his own policy that will attract more users to see more improvement in some altcoins that will give investors some suitable profits to earn in the binance.

As the position of binance CEO falls on Richard Teng, if CZ decides pulling the string of power behind the scene, then the new CEO will be a figurehead as you said. It's quite hard for a business executive to involuntarily vacates his office, and not try to influence his authority from the background, they'll reason that the business is their sweat and won't like for any other person except them to make major decisions. In such situations if the new CEO defies orders from above, that could be the beginning of the end for the company.

Hopefully the transition will go smoothly, where CZ will stay on advisory level, so binance can still maintain it's top level exchange that we know and trust.  

Yeah this is a strategic move by binance. No large company is lead by a single person but Changpeng Zhao was the front face for binance. As the SEC got involved in the running of not only the Binance US but the overall corp, they needed some scapegoat to go clean.
Normally we say SEC put some conditions which the binance complied which included the resignation of CZ. But it reality SEC is a corrupt institution that extorts and just wanted money from Binance and put up the resignation as face saving. CZ could still be involved in binance and can't rule out them selling their share of BNB to get out of this headache.

I have positive viewed with changing CEO of Binance regarding latest CEO CZ faced internal problem with many institution such as SEC Commission, I hope new CEO of Binance Richard Teng will be clear person from many bad thing and learned from CZ mistake after accusing in money laundering make him have to fight SEC and loss his position as Binance CEO.

I have huge expectation with new Binance CEO Richard Teng will make Binance have good progress in the future and not make the same mistake like CZ, he keep make his exchange away from money laundering and never find problem with SEC Commission. I think Binance still most trusted global exchange although CZ have sacked from CEO but I doubt he has function behind Binance operation although he was not CEO again.

A lot has happened in last couple of days and if you noticed on thing in common which is crypto exchanges being targeted left, right and center and there is one thing which draws correlation to all these hounding activities going on against these exchanges is application for spot ETF as SEC cannot be trusted and doing what they are best at which is deceiving people. Kraken is in soup once again, not sure which exchange will be the next target but it doesn't affect CZ as he still holds large swathes in Binance. We the common people should be more careful than ever and shouldn't fall for the trap.

Anyways CZ stepping down is best for Binance after being involved in such activities.

But is it true that he will not only be a CEO for Binance in 3 years and after that, he can come back again as CEO?

It was said that this is part of the deal and binance.us will still be able to continue to operate even his admission to this money laundering. There certainly is something behind this dealing but I guess SEC had claimed the binance.us which CZ will also have to give up this platform to continue operating with his binance.com

In the modern era, the birth of crypto is like someone wants crypto power, the crypto era can be said to have a long term because the potential for use is good and one day all countries will support it 100%. I think there will be someone who can control crypto volume for their own benefit because of the large long-term potential

Where did you find this statement? I think theres no deal like that cause if its the case then its just like Teng act as a dummy while CZ is in heavy situation. For me, the stepping down is a good move if their CEO is involved in this kind of scandal or lawsuit. Well CZ realize that it will bring more down to the platform and realized to do this. I mean nothings change since CZ would still support them.

This is an act from CZ to save Binance from SEC filings in the future so this won't make any change in the system anyway but I am kind of worried about how the future of the exchange will turn into cause already Binance charged $4.3 billion penalty along with $50 Million for CZ and I don't think the SEC will stop their charges just with this.

Well if the resignation of CZ would guarantee continuity and protect Binance.Us by SEC let it be, Binance had grown to become one of the best exchange and with the accusation and allegations against CZ  in money Laundering I supported  his fine and subsequent resignation to avoid those touching stories of clamp down of the exchange, I hope the taken over of Binance.US by SEC would guarantee smooth operation  and running of the exchange and I am convinced SEC wouldn't tolerate any sort of money laundering especially by terrorists, meanwhile another issue is whether CZ would retain his share of BNB or sell it because it was allegedly violated some law during their ICO.

Certainly, it was very shocking news for crypto industry, and could have triggered panic selling across entire cryptocurrencies markets. Thankfully the worst case scenario didn't materialize. Bitcoin price dropped to $35,000 but soon it recovered and now trading around $36,500. I am pretty sure Binance will survive this crisis and  continue playing its leading role in crypto arena for innovative work and providing its excellent services for customers.

Yes really This morning it was a big surprise when CZ stepped down as the CEO of Binance. Many people really surprised by this news especially because CZ definitely has made Binance a very successful platform. And of course It will be interesting to see that how the new CEO  will continue Binance in this new time.
By the way this is not a new thing. Whenever a company think this person is not good for the company they ask for resignation of this person.
Mostly the big companies do this. Again CZ do his in his career to make the Binance the best. And he done it. I am thinking that what kind of new things we will see in future by new CEO. By the way let's see what will happen?

This is a sad news because Cz has really work hard to make sure that Binance should be one of the best exchange in the cryptocurrency ecosystem worldwide and he has done his best for that. One thing I am thinking is that since the government and it agencies could not control bitcoin, they want to deal with the Centralized Exchange Platforms to crumble bitcoin but the matter what they try they can stop bitcoin again. Bitcoin has gone far for them to tackle it.

This attacks of the exchanges will increase the uses of p2p effectively. Once peer to peer becomes effective more than the way it is then the fight will be very hard for them. All what I pray is let the new CEO also have the vision of the former CEO

I think this is a strategic restructuring of the management people of Binance in order to not get fully affected by the regulatory action against CZ.  It is also a timely change of CEO as regulatory board is continuously pressuring their previous CEO CZ about the illegal stuff Binance is accused of.

I think this is just a stage change of leadership and CZ still holds the command over Binance.  Let us just wait when all is clear for Binance and CZ.

This will probably be the end of the road for CZ as the CEO of Binance. I know he would still be involved in the background but certainly not in the highest spotlight which was his previous role. Binance might create a whole new product or service in the near future and he might head it or if they have an active board then he can be like the Chiarman of the board when the dust settles because it's very rare to see coFounders completely part ways with their brain child when they were not completely bought out and AFAIK, CZ should be one of the biggest holder of BNB.

New leadership means new beginning. So, it is possible that there can be some changes might happen in terms of managing Binance entirely. The new CEO has got the regional experience so I think that's a plus and why he was chosen as the new one.
I guess that CZ will remain forever as part of Binance but on this case, his name won't be on it in the organizational chart but he can still be an adviser to them and decisions could still be depending on his opinion that might be considered by Teng and the boards.

This could be a big tragic for Binance, losing their founder and CEO was such a big loss aside from paying the billion settlement of course. Maybe this is the best move for Binance as they continue to follow the regulation and stay in business. The good news here is that, they are not totally leaving the market, they are just rehabilitating their platform in line to the regulations so they can continue their good platform, let’s be more positive and of course buy the fud.

This change in the company hierarchy I believe this new change is going to effect binance more positively and just as CZ mentioned that the new CEO is vast in financial knowledge and hard long-term of experience and hasn't worked on several international and national financial institutions and has been an active board member at Binance before the recent upgrade to the rank of COE which I am sure is for the good of Binance and their customers, a lot is expected to change and for me personally, I see this development as a welcome development at least this has changed CZ from being the face of the company which has been what it is for a long while now before this recent development.

There is nothing tragic about CZ stepping down as the CEO of binance and letting someone else taking the reign of leadership. Besides the constant pressure from the SEC binance becomes target of all SBF supporters. Although one thing has nothing to do with the other, this must be a decision that has been well thought out.

Binance is like a child which cz has nurtured to maturity and letting go most have been very difficult for him.
Even though cz is not directly the ceo he will still plays a vital role in making decisions about binance future.  He can not watch his legacy and hard work to go down.

Heard the news and totally watching the market reacts to this, as usual a FUD is going on and we’ve seen a big decline with the price of BNB already, I think this can be a good opportunity to those who are looking for the opportunity to buy. Binance will still continue their business though with a new CEO and he’s a good one as well, I’m sure Binance can survive this and I’m still confident that they will remain the top crypto exchange that prefer by many especially now that they can get access again in the US market as they settle it.

These are influential men in the system, any little mistakes these men are top targets as prey by their enemies, and they can't be changed with the slightest strategy but can be changed with significant transformationm. Firstly, I was scared about the change of power of Binance, though everything working perfectly smoothly for the team, the new CEO will enchance. The former CEO binance, Changpeng Zhao have withdraw from the race of hardwork, why give up now? Perhapes he's been charged for sort form or money laundering, though the whole scenario have not been clear to me.

CZ may have stepped down but I don't he will be gone in the vicinity of Binance. He will be there I am sure of that behind the curtains, using his remaining power to make Binance better. What he did here may actually be the best way to stop all the attacks on him. Change the face of Binance so that all these SEC problems and other stuff will calm down and maybe one day it will also stop once the power is transferred to someone else.
He has been the face of Binance for a very long time and I don't we and other traders could ever forget that. Somewhere in a year or two when asked about Binance, he will still be the image that we will see because that is what we get used to.
$50 million fine, damn! That dude made a lot of money and I don't think he will just easily let go of that business.

Well, he clearly stated in his tweet that he was leaving Binance but would be available for consultation if need be. However, I really think that he is leaving because he made a statement about how he hasn't had an actual day off in the past 6 years (this is unimaginable), and that he will be doing some passive investment. In his words he said:
"I will take a break first. I have not had a single day of real (phone off) break for the last 6 and half years.

After that, my current thinking is I will probably do some passive investing, being a minority token/shareholder in startups in areas of blockchain/Web3/DeFi, AI and biotech. I am happy that I will finally have more time to spend looking at DeFi."

You can read his tweet here (https://twitter.com/cz_binance/status/1727063503125766367).

It's not really shocking, almost nearly all CEX's have had their legal or hacking issues.  Crypto is a breeding ground for scammers and the easiest place to do it or attack is at the exchanges.  Who knows how this all plays out but I wouldn't be keeping much money locked up on that exchange for awhile.

also, stepping down doesn't mean CZ has nothing to do anymore with binance. for sure, he's only at the background continue doing his business, away from the prying eyes of authorities. i believe that's one arrangement also with SEC.
this may come as a shock to some, but i guess, this situation is much better rather than shutting down the platform itself. also, storing funds in third party sites is actually not advisable.

I don't really think it's anything big. Binance was pretty much pressured to drop him so that the SEC would get their eyes off of them but it doesn't mean CZ lost all his power. Pretty sure he still holds a fair share of Binance itself so in terms of swaying decision-making, pretty sure he's still there. Probably a lot less involved, but will still be part of the big picture.

I think it came from this? (Quick google). I don't think it includes anything to him coming back as CEO though.

Source: https://www.axios.com/2023/11/21/binance-cz-step-down-settlement-doj (https://www.axios.com/2023/11/21/binance-cz-step-down-settlement-doj)

I wonder if he actually instead gonna be joining board of advisor, regardless though binance should just accept their punishment, it seemed in the future binance will not gonna ever trying to open services in the US anymore I guess considering how bad their punishments are. the changing of CEO will do absolutely nothing.
right now so many people has withdrawn their money from binance because of this, which also unavoidably affect the price of many entities related to binance.
but honestly, I wonder whats the future gonna be with binance, will they face anymore problem, or would they learn from this in the future, since it seems like if they can't step into the US market, they'd definitely trying to focus on some other country instead.

This was not unexpected, we knew this was coming and the idea of a borderless company goes down the drain when you settles with the SEC for $4 billion and pleading guilty and in that instance there is no other option than to step down. Wonder when people start to move to DEX.

I believe the recent news might negatively affect Binance and BNB Coin. The abrupt drop in BNB could be attributed to some investors reacting with fear to CZ's resignation. Nevertheless, it's possible that only the title has changed, and CZ remains involved with Binance.

CZ as a CEO does really have a lot of influence toward binance success so far, he abandoning the position instantly causes massive problem for Binance aside the fact that binance is already having problem that they need to face in the first place.
his resignation instantly causes massive withdrawal, drops of BNB value in the market and many people doubting so much about the future of binance that I think it gonna causes some wave in the market and might possibly cancels out the preparation of bitcoin towards massive bullrun though im expecting the ETF influence toward the market will become unshaken even with resignation of CZ since binance will still be intact and not going anywhere anyway, they still have billions of money as a reserve.
but will such problems also gonna go towards other exchange? we don't know for sure, maybe other exchange also need to learn from binance.

It's not even taking a week after the change of CEO so why worry? He didn't gave up, he did it for the sake of the company as he said because it could be part of the deal and settlement with the US government.

They have already accepted what's fined to them and paid it with $4B which is a lot of money. We don't know yet the future of it and usually with these changes, we might see some changes as well that shall be implemented. Otherwise, there's really no need to change at all and Teng the new CEO needs to just go to work as simple as that.

If that's true, does it mean that he admits to the accusations that the SEC leveled at him and is guilty of them, or is this an attempt to save Binance?
I think Binance will continue to run with or without CZ, it's like a system that can run itself, even CZ admits it.
whatever it is I hope something like ftx will not happen to binance.

At least be an advisor on the stock exchange. but I'm sure there are still many optimists about this exchange and its coins. and that doesn't reduce people's desire to buy BNB after this hot rumor. unless the exchange sells all BNB assets and turns them into money. just collapsed and everyone was dizzy.

Towards CZ's resignation in my opinion its a natural fear because they don't want to experience a similar incident as what happened before with FTX.

With these legal actions there was some initial fear that Binance will be the next FTX. For now it seems that their problems can be solved with a fine and CZ stepping down from his position. A collapse of Binance does not appear to be imminent so I think BNB will be fine. XRP price was also down for a long time while they had their legal problems but they have managed to recover.

I don't expect CZ to fade into obscurity but he will be less prominent. He is still majority owner of Binance and there are other ventures he might want to focus on.

Yes, that's right, I agree with your statement.  it seems like cz will have little influence on this exchange.  and it would be a shame if an exchange as big as binance could experience something like that

Probably a settlement I guess. Not sure but this wasnt disclose like if his really guilty of what he is being accused maybe it is. But since he paid you could say that but on the good perspective itd hard to argue with the government as they dont usually understand a crypto enthusiasts. Maybe for them they see CZ as whopping peoples money but for the community he is just helping through different means. Well I dont know since they are playing with funds so huge to even understand the situation.

  There is a basis for that because there was a new CEO at Binance, and if CZ stepped down from his position, it was because of the condition of his paying a fine, apart from the fact that he could be jailed for 18 months. If I'm not mistaken, the final decision will be next year.

  Let's see what the new CEO can do. Who knows what better things will happen in the coming times for the Binance platform? Let's not judge the new CEO; after all, he won't be sitting there if he is not good at holding that position.

Basically the best case is that he just didn't want the trouble so he just got out, which is understandable because we are talking about a person who already has a lot of money and he didn't want heat on him, if he just went against it then I am sure that he could have appealed and did his best, and hired the best lawyers in the world and the best law companies and just bury this under pile of paperwork to make it go long even further, I can be certain that it would have costed SEC more to keep it going then just end it, so he could have done all of that, basically wage war against SEC, but he knew that it wouldn't be helpful and it would just come back later, and he didn't want a life like that and just quit and retired basically, he can do something else.

I think that ordinary users will not even notice the replacement. It is important what policy the exchange will have and whether everything will work as before. Let's see how the new CEO will perform and how the large crypto community will accept him.

What surprises us is how CZ step down, there are huge pressures from regulatory body that made him resigned. So that is the biggest news for us in the last 24-48 hours. But I think Binance is in good hands, I mean this is not the first time that we have seen this kind of movement.

It could be a new beginning for Binance as we look at it, however, I think CZ will come back in any capacity here. And there's none of that power struggle in the top, it's that again there are entities that wanted CZ out of Binance. So by now, he could be in the background but yet for sure we will felt his influence in Binance and we might not know that it was CZ that still making the decision behind.

CZ's step down from binance is good for the exchange and altcoin markets as well. Binance is the biggest promoter of altcoin, and downfall of binance can be a massive blow to the whole altcoin marketplace. Also SEC is trying to manipulate binance so that their influence over the overall crypto industry can diminish so that companies like blackrock can dominate the market in the future. This is just speculative thinking, and it can be totally wrong, but binance has been targeted many times before, so it can be a fact.

Binance has settled the problem by made some agreements with US. 1 of these agreement to pay more than 4 billions as a compensation to the US. CZ is also paying some money to make sure he will not be jailed.
CZ has accepted his guilty as his platform being used to funding the terrorist. CZ is still co founder. The drop will remain temporary but we must also aware if cz has sacrificed himself for the bullish trend of crypto.

In another case, SEC was also starting to sue kraken but the exchange site is willing to fight against SEC like what some crypto companies did in the past. Another long term battle against SEC.
RT was not that bad as a new CEO, CZ will be coming back once he will able to sorted out all of his problem with US regulartors.

The day will come soon.

big fat chance CZ would just advise from behind the curtain therefore the policy will be more or less the same as it is today.
but CZ stepping down from his position of CEO I guess the best decision their company could make, otherwise they'd receive even heavier punishment I guess.
personally considering the fact that the binance reserve was still humongous anyway, even with withdrawal of more than 1 billion at the news of CZ stepping down it will do nothing.
I guess the biggest change with binance nowaday is that they don't open service in US anymore and will be only focused on the other part of the worlds.

Based from the email sent to their users, the tone is still very positive as their services didn't change even with this announcement.
As you said, their reserves are humongous so to speak. So there's no worry about the use of their services.
As a major shareholder of this platform, CZ is still in the background to guide this business of theirs.
I don't think he is not ready for this situation. They have been preparing themselves for this worst case scenario since they have seen how trading platforms failed in the past years without any prep at all.
I believe the difference among those leaders who stepped down was that, CZ didn't misappropriate the funds nor spent for his luxuries.

For sure theres a lot of people with influence want him out maybe majority by SEC and their puppies. Being a CZ is something we cant forget about crypto bloom. So if ever he decides to create another platform or focuses on defi, this is something people will dive in. Its not that he isnt gonna try that but opportunities for CZ is just starting and Binance is not his only way on how to come up on top.

The new CEO of Binance seems to have been chosen with the best considerations, however, it would be a shame for Binance to end up like FTX and Luna, because BNB is backed up by the largest exchange in crypto.
that's why another solution was proposed, I saw cz put up 175m$ for the guarantee, and binance was fined 4bn$, that's a huge amount of money in a case like this.

Yes. I think that more than 1.16 billion withdrawn in 24 hours will not be comparable to more than 150 million users worldwide. It is not a data that indicates severity. It is possible that successive events are likely to occur and continue to be detrimental to Binance with regards to CZ. But personally, I think that Binance's ability to maintain its position as the world's largest crypto exchange is unquestionable. They will do everything to complete the CZ case and overcome this difficulty. CZ's contributions to the development of Binance in particular and bitcoin/crypto in general are indisputable. So we need to wait for a continuation from Richard Teng...

Yeah, Binance admitted the charges against them and they already agreed to pay 4.3 billion USD. I think it’s a biggest penalty ever for a exchange but binance are capable to pay this amount, so it will not be like that bankruptcy ftx. Just CZ resigned from his position but exchange aren’t affected.

Yeah, CZ plead guilty. Also, they also announce the new CEO as CZ steps down. He will face the charges, $4.3 Billion is also the biggest penalty I've heard. I hope the new CEO will continue the legacy of CZ and Binance stay strong. Also, hoping that Binance will recover, because if you check the market, a lot of holders sold their BNB as the news comes up.

It could be because China's dominance in the world of crypto is quite large. but, just my prediction too. However, BNB has always had a place in users' hearts to this day. If we look at the price, it didn't immediately fall sharply and is still holding up and also seems to be following the pattern of BTC's increase. The current price is now $236 and the good news is that BTC is increasing upwards.

CZ acted wisely: he took responsibility, admitted guilt and compensated material claims, thereby diverting possible claims from Binance. I hope that he will remain an eminence grise there and will provide all possible assistance to the new director so that the crypto exchange continues to operate and prosper. Therefore, I believe that nothing bad will happen to the exchange itself.

I also believe nothing bad will happen to the exchange. They have been doing well so far and that's all we want. Also, they have been transparent enough. Although, I don't use it cos I like to buy coins before it started trading there. But I respect the Exchange and the previous

Every company's CEO changes, and how did Binance's CEO change?  CZ committed an offense and that was an offense like money laundering. And then Tinney paid a $50 million fine. And then he quit his ceo post. This is very sad for Binance because he has worked hard for Binance and made it a huge and popular exchange. For this we have noticed a slight negative effect on the price of BNB.  But no one can say how long it will last. Because how strong the new CEO's efforts can keep Binance strong remains to be seen in the coming days

We don't need to be surprised because Cz is already getting old and he needs someone as soon as possible to replace him taking the growth of the exchange to another level. Like we all know that he was accused of money laundering and he had pleaded guilty, the only he can escape many of the charges and other allegations is by stepping down for another person to lead the company so that it would not have so much effect on the exchange. He had taken a wise decision and we need to to applaud him for that.

Give the guy a chance.

He's still new and the boards are even trusting for appointing him as the CEO. He has got the experience that made him qualify for the position.

They're doing good. What's not good is the people's thought that they think the new appointed guy is going to fail. He might not be the same as good as CZ but there's a clear approval from CZ and their boards to appoint him.

CZ is getting old but not old that doesn't mean he can not run a company. He was a successful entrepreneur, and i am not sure what he will do now. Perhaps CZ to launch a new project or work on any project as a project lead. May be this won't happen because the USA government will keep an eye on him so that he can not influence Binance's authority or run his own exchange again. If he agreed to pay his penalty money then i am expecting that he will be released but he won't settle in the usa any more.

I was even shocked to see that a new CEO has been immediately brought up by the company. Though I believe it's to fill that vacuum, so they can easily stire the administration of the company seemliness, because with this crisis binance is going through, if nobody is there, it will affect investors interest. So they needed to get a replacement to build investors confidence, I feel is a welcome Idea.

It's sad we lost CZ as Binance CEO. But I don't think it's regrettable since he is the founder and owner of Binance. He will always take care of his company, and he won't leave us alone. On the other hand, the new CEO is also highly experienced, and he could handle everything since CZ will back him. So we don't need to worry much about the new change at Binance. Let CZ work freely now for us.

He has indeed mentioned in a tweet ^{[1] (https://twitter.com/cz_binance/status/1727063503125766367)} his step down from the position of CEO of Binance, stating that he will remain available to the team and consult with them as set out in U.S. agency resolutions. because he is the only person with historical knowledge and information for years about Binance's company as its founder and former CEO. Whether CZ continues to manage affairs or Richard Teng takes over, the crucial point is for the Binance platform to remain alive and more secure in the future. This might happen after the agreements made with U.S. authorities to resolve compliance issues and sanctions. Richard Teng, the new CEO of Binance, is highly qualified and has extensive experience in cryptocurrency/CEX; the Binance platform might become more prosperous under his leadership. This is what we hope for, as the collapse and demise of Binance would be a severe blow to the market.

Totally agree and this can also be identified that everyone has a time to go up and everyone also has a time to rest. Despite these problems, I think the Binance Platform will continue to provide the best service to its users through Richard Teng's leadership.

Yes. hopefully it will be better in the future.

I'm actually not looking down on the new guy. I know he has been managing the Binance for a while. I'm only saying my opinion. And I'm sure there won't be any problem.

I think the new CEO will only continue Binance's performance, Binance is no longer a startup company that cannot stand alone, especially after 6 years of being founded in 2017 and now being the largest exchange in the world, Binance will not lose its prestige, but after CZ admits its mistake, we hope there will be changes. which makes the new CEO of Binance.

I don’t really think it is good news as CZ was the face of the company and made one of the biggest exchanges in the world in just a couple of years. There are more and more countries taking actions against them and I withdraw all my money and crypto just to avoid that I would loose anything.

But, there's nothing he can do now that he resigned from that position and I think those who knew who represents Binance will surely know that he'll stay be supportive on them. Well, it's best to secure your assets and get it off on exchanges but I think this is the last shake we may see until the market gets healthy again.

I felt the same way when I saw this news on Twitter, he is a very influential figure in the development of Binance so that it has become one or perhaps the biggest number one in the world. I hope CZ's departure doesn't destroy Binance and the BNB network, it would be a shame if this happened like FTX and Luna. I hope a new leader means new ideas, I hope Binan is bigger than before lol because the proportion of my money is quite large in this coin :(

It is critical to recognize that change may bring about new opportunities. The selection of Richard Teng as the new CEO is a smart effort to handle possible hurdles, especially in light of the SEC plea problem. The company's continuous engagement and support from CZ may give stability during this shift. Binance has a strong basis, and with Teng's knowledge, a new era of development and success is possible. Let us be positive about Binance's future under its new leadership.

I doubt that after the latest events the exchange will be the same. After all, the amount of the fine, although significant for a top exchange, is not clear whether there is now enough liquidity to be ahead of everyone else in the market or not.  In any case, time will tell, the most important thing is that the market did not react badly to this.

Binance is screw and I feel, there is more to this show than is even reported in the news. Richard Teng was reported to be the formal head of Binance marketing. I really not sure how that guy was going to handle the affairs of Binance like CZ. I don't follow CZ  as usual  but I know the guy is very symbolic in the crypto market, his statement givea everyone in the crypto space confidence when they have zero hope but he is the type that always encourage, I am not sure if the new CEO has the mental strangth to do that.

Another red flag about this new CEO is that the US are going to be looking at everything he does from now on because they caught CZ red handed and was charge with $4b, now,imagine how much they can make from Binance if they dig more or when they found out that there staffs are doing somr bad things under the hood. It will makes me more scarred about the future of crypto and the crypto market.

This is not entirely the fault of Binance itself, but the US government is always looking for loopholes in Binance As and Binance has had problems with the US government before. Binance will of course blacklist the US because of this incident and this is also a lesson for other exchanges not to get involved with the US. But I still believe in Binance and for those who withdraw their assets, they just panic and it ends up being detrimental to themselves. The change in CEO will certainly make Binance different and this will be a challenge for the new CEO.

well I guess CZ gonna be his advisor anyway nothing to worry in this case binance will still exists but whether it will decline we don't know for sure but we can see it just within months and see the trading volume and overall liquidity of the exchange itself.
when a exchange is declining it won't do much to the market of cryptocurrency, remember bittrex? you don't even realize its declining exchange even went bankrupt even though it was among the most prominent exchange back then but it does absolutely nothing towards the market, its only a collapse of exchange where it causes many people to lose money that causes uproar in the cryptocurrency market.
which unavoidably could make the trend changing bearish.

Don't worry too much about that. We saw downfall of too many leading exchanges and in the end nothing happened to Bitcoin.
Judging by the market's reaction, the change of CEO didn't affect the coins too much. Even BNB didn't fall too much. If such an event happened in the past, we would've seen a much bigger drop in the market. This actually shows that the crypto market has become more mature.

He has a serious problem against US regulartos and CZ has been also accepting his guilty. CZ is also potentially to be jailed and he has stepped down from CEO caused by he knew that if the downfall of binance will be making crypto market panic.
That's why he picks a new guy to become binance CEO. It's caused by CZ will be facing US regulartors for longterm. Even CZ has been prohibited to leave from US. UAE has been banning him too.

No reason for not to give CEO to the new employee. Binance has been facitilitating terrist and human trafficking a way to laundering thier money. It's fully explained that more than 100k non idenfitied transactions have been happening on binance.
CZ has admitted that his mistake and that's clear if he will be facing his sanction. I can't even imagine if binance will be go down like FTX.
There will be a massive dump to happen. This is also the reason why cz has sacrificed himself for the crypto.

NO doubt some called him as hero but he is also making mistake by facitilitating terorrism.

That's true because the massive effect that I was expecting this case to pull on the crypto market has disappointed me and I believe that this is like you said maturity in the crypto market although investor still pulled out a whooping amount of their investment on the binance network but that's quite understandable as no one wants a situation of FTX to repeat itself. Binance is a really big firm and it's foundation is very solid and I think they can modify with this loss and move on to even make their service more better.

I agree, there is definitely more to this case than meets the eye. Not fudding, but I never had any faith in the new CEO so I moved funds off the exchange soon as I heard CZ was leaving. Some might call it a cowardly move, but I'll call it smart since I'm now utilizing an exchange that has managed to steer clear of attention from the SEC or any other troublesome bodies taking out crypto exchanges. We might not realise it now, but BGB might just be able to pull off that "Binance Overtake" for no1 spot that's been talked about for years now.

Indeed. It is very surprising news, no one expects that CZ will resign from his position as Binance CEO. However, CZ may think it is the best solution to secure the existence of Binance exchange. CZ seems to plan facing the SEC lawsuit alone, without involving Binance too much. If his status is still Binance CEO, it may ruin the reputation of SEC and there are probably some other bad impacts in the future.

Richard Teng is the right person to be Binance CEO. He has great track record, he has done some good things for Binance development. However, we think deeply, it is about the status of Binance CEO only. The ownership of Binance exchange is still CZ, so everything should be still in CZ's control. I don't think it will be the beginning of Binance era.

At first, I thought it is CZ that owns the exchange Binance. Not until this sudden news of him dropping his position as the CEO.
So what is now the exact future of Binance exchange?
Will this new CEO continue from what CZ started or the new CEO will make his own ways to improve the exchange?

I am totally confused and I am not using the exchange again for now because I don’t normally like trusting them with my privacy because most exchanges promise to give us extra security when it comes privacy but they mostly go against their words which is why they lose their trust.

He was owning it but he has also having CEO as his position in the company. He is still co founder even though he was not CEO anymore. Please try to take a look at his BIO on twitter. It will explain everything. CZ is still having the company even though he was not a CEO anymore. CZ will be back again once the time will have come. Cz will always be monitoring his company. You shall not even worry about that. CZ is fine and he will be back once he will be sorted out all of problems.

Nothing happend with the exchange site and it's still operating without any problem. US may be charged it with a very big sanction to pay around 4 billions fine for united stated but binance has agreed to do that.
CZ is also having his money ready on his pocket. He is now only fighting for himself. That's why he was leaving from binance as CEO caused by he didn't wanna see crypto market got hit so hard by this news.

Those who didn't respect CZ Binance before now should find this as a reason to respect his business acumen. By resigning immediately he was indicted by SEC for money laundering charges actually saved the day and that's why we haven't seen that expected dip in BNB or other associated projects to the Binance enterprise. The lack of this initiative was what aided the liquidation of Sam Ben Fried's FTX. If SBF had resigned immediately his saga came up, we can bet that FTX wouldn't have been washed up.

CZ mentioned it that he would be available for expert consultation if the Binance team needed him. He will still be there.

I totally agree with you on this point. He tweeted after his resign that he resigning which is good for Binance, crypto and community.. He is very clever and experienced man. When he understands that SEC will not leave him and if issue continue then SEC will produce a big problem for the exchange then he sacrifices for to keep alive Binance exchange. Not only BNB I think he saved crypto dump which was possible in case of Binance stopping exchange service.



I think he will be now available on back door. He has still lot of secrets of Binance which he will use wisely. All Binance management will work under new CEO and new CEO will take advice of CEO and that's it and no need to come in front so far this problem not solved.

I agree. When CZ resigned right away, I figure he was trying to limit the harm to Binance and its stuff.  It seemed like the dude wanted to work things out with the SEC and keep his business going smooth and  BNB bouncing quick probably kept investors chill instead of everyone freaking out and taking their money elsewhere.  So props to CZ for reading the room and taking one for the team when the heat came down.

It is indeed difficult to find the safest and most convenient exchange, but what else can we do if we need to deposit money into the exchange if we want to buy coins, for example BTC or want to trade.

Regarding the investor response, it has faded slightly due to Binance CEO Changpeng Zhao (CZ) stumbling over the case. But the Binance stock exchange is still active and carrying out activities as usual under the leadership of the new CEO.

Sorry, though I'm familiar with the post, I just saw this on the altcoin section. And a big congratulations to CEO Richard Teng, if CZ didn't believe he was too smart, he wouldn't find himself in this mess and another person would not have taken his responsibility and pride.

But I wonder why this is a shocking event to you and why you related it with the strength of Binance. It might be shocking news really but certainly not questioning the strength of Binance. This is financial misconduct and has nothing to do with the financial standing of the company. Fine, the reputation is at stake and a fine of $4.3B is big, yet it might be spread over a long duration of time. The insurance could also cover it as it's part of their responsibilities.

The face of the company has changed, this crypto platform as a corporation (for this exchange can already be called that due to their scale and influence) will continue to function. I am sure that this personnel change will not affect ordinary users of Binance. Moreover, we should not forget that CZ retains a controlling stake in this crypto exchange, which actually means the irremovability of the previous owner of the company. One should not be discouraged, I think that this was done deliberately and this is a strategically planned move. The final beneficiaries remain the same and only the cover of this company will be different. I am also sure that this will not affect the Binance’s subsequent “policy” and progress. The course of this exchange was set by CZ in advance, probably many years ago (any serious business plans strategic development for many years to come).

It's not the first one Binance got involved in a legal battle, and as usual, there will always be people who are in fear but later on that fear will only be replaced with confidence, when they see that Binance once again solved their issue and maybe that was the time CZ can return to his position. I wouldn't say that Binance is going to be the next FTX because their actions are not the same.

I think what FTX did was too brutal for them to collapse permanently. BNB may be affected in value and it will decline but we can use that moment to buy at a better rate. If we miss XRP, we shouldn't miss this one now, knowing that BNB was still better than XRP.

AFAIK its just binance.us that is affected in this shitshow but all things are still going to be managed by CZ in the background. But sure this is regulatory capture for Binance and I guess he complies too.

Even if he pays 10B, CZ will still be able to pay them.  Surely there are users on binance.com that will not allow any government to takeover however CZ is suspected to be linked with the CCP too.

The new CEO Richard Teng says Binance will now act different then when CZ was in charge. This means there will be a board of directors, physical address, and financial transparency.
These are all things that Binance never did have with CZ as the CEO. He says there is a 'robust timeline' in place for it to happen.
https://www.binance.com/en/feed/post/2023-11-27-richard-teng-transitioning-binance-into-a-conventional-financial-company-with-increased-regulation-and-transparency-612563312369

@CZ (Binance Former CEO) must have made the right decision by stepping down, it was very sad thing to him but he did for the goodness of the company. But i think new CEO is looking good experienced because he was also employee of this company and served many years from important position. Indeed, there are no chances to Binance will become Luna or FTX, because they're able to penalty of this big amount of money, so no way to it will bankruptcy.

I guess that's what would be good for all the users. It don't mean CZ and the leadership were harming its users but more transparency and regulation are always favorable to the users on the long term. Even though we might have to trade of some perks and probably a higher fees as their operation cost and taxes increases. It may seem counterintuitive at first but it may prevent any large mishandling of Binance like the one done in FTX, where people lost huge amount of money trying to save a fraction of the fees.

I really hope that the change of the CEO will not have a big impact, the Binance exchange evokes only positive emotions. The whole journey that has already been done cannot just go downhill. A change in leadership can open up new perspectives and opportunities for a company to grow and adapt to changing market conditions.

Getting a new CEO is a good news for binance since CZ had been accused of money laundering and the case is still in court.
If he continues to become the CEO of binance, that would have a negative impact on the exchange immediately. Resigning is a good news and we hope to see more hands that would work together to make binance more bigger and a better exchange for her customers.
There are speculations that binance is going to fall but this news is not good enough to make the exchange crash.

And aside from that Binance did this to give way for the investigation where CZ can focus on the case. Of course, we all can't forget all the good things and exchange improvements during his time but still, we are not sure about the transparency he did and this is what the issue has been called. It is a good decision for the Binance team and the transition is needed knowing that CZ can no longer hold and work on his position as the issue continues. And with the experience of the new CEO (Richard Teng), we believe and expect something new with Binance and can protect its reputation.

hopefully with the change it could bring betterment for binance so that they learned their lesson. after all its matter of mantaining public fund in this case where if its gone it might incur many people to lose their money which hopefully will not be happening anytime soon.
This could also be a lesson for other exchanges out there as well.
in regard of the fall of binance, Im sure it won't happen, you see even though there has been some proof of withdrawal of billions of money from the platform from peolpe after that news of changing CEO, the company itself still have so many reserved funds that I doubt the withdrawal will be meaningful even stating that its not the first time they got such massive withdrawals.

Cz is a very good person.
Cz countless efforts make the binance exchange the world top crypto market exchange. I hope cz will back soon. Cz is the real gem for binance. I wish that the new CEO is more hard working and competent then the cz.

I don't know how good his reputation was. I think he was often talked about negatively in the crypto community. To be honest, I'm even surprised that the investigation into him started recently and not a few years ago. But I guess that doesn't matter. What's important is that the government is taking steps to regulate crypto.

The CEO change of Binance Exchange did not have any negative impact on Binance Exchange, but if huge amount of dollars are withdrawn from Binance Exchange temporarily or permanently, all these things cause great damage to the reputation of the exchange. For now, the new CEO change has not affected the reputation of Binance Exchange. However, due to the SEC's case, the reputation of the exchange was temporarily damaged.

There had been a lot of attacks on cz and this had made him stronger and prepared for the worse to happen. Since he accepted of putting his hands on money laundering, this had made some investors to be scared and have no option than to remove their funds from binance to be safe from any future attack on the exchange. CZ is an hard working CEO and I don't think he relent on users funds to get to where he his now so all those attack on him would not go anywhere or affect him that much.
 

  Honestly, if we are only talking about the performances, what I saw is that Cz is good and manages well. I saw that he really took care of their client users on their exchange platform, especially if a hacker suddenly gets into their exchange platform. The trust of the users is maintained, even though it has happened several times.

  Now, let's say to the new CEO that it's still a little groping and he should quickly think of good plans to do. So far, I haven't seen a good performance because I've heard of other countries that are held by Binance. It looks like no action has been taken yet, and it seems that the country that uses their platform is not paying attention. I hope it will be done soon because now that it has been given a grace period of 3 months, if Binance does not do it this way, it will be a big loss for them.

What CZ have done is good for their business. He only cared about making profits not the community that is the Binance is one of the graveyards of dead altcoin. There are lots of project that is backed by binance and later abandoned. They also list project for money even their project is not potentially good for the long run. Just look at the delist news on binance and you will see they are delisting old projects every month. It is true that this is not their fault that project stop their development but what will happens to their community who invested into them. Why don't they put those project in the red zone before delisting them.

just like my expectations, the previous rules do not need to be replaced with new ones because I personally already feel comfortable trading on Binance,
I hope that with the new CEO, Binance will be more successful and the safety of users will be prioritized

Those who speculate that Binance will fall are enemies of progress. This is not such a situation that makes companies fall, there are many like Barclays Bank and even JP Morgan Chase Bank that were heavily sanctioned in the past but are still fully in business. Binance is a good exchange and it's well-capitalized, there is no issue with it. And even if CZ didn't want to step down, no one would force him. But as a man of integrity in society, he did that, and I believe it's a welcome development as the company would use this opportunity to breathe after the issues, not being under the management of someone that is under scrutiny, that could be very bad antecedent as his decisions might be affected as well.

CZ himself is worth $15 billion dollars, he's a big boy and could even pay the money all by himself, so I don't see any reason why Binance would fall. I can only hope that the new CEO can do the right thing to keep the exchange moving forward. CZ definitely understand the business better than any other rival CEOs, I hope the change will not be a challenge.

Well now for a second time a US judge has said CZ can not leave before his trial. The judge thinks he is a flight risk to not return if he lets him leave.

Again he wanted to go to the UAE to see his 3 children and their mother. The choice of the judge is cause there is no extradition treaty with UAE and US.

https://markets.businessinsider.com/news/currencies/binances-cz-denied-permission-to-travel-by-us-judge-for-the-second-time-1032933058

Well now the US judge did approve the $4.3 Billion settlement that Binance did agree to pay. The settlement is for anti-money laundering and sanctions violations.

This fine is the largest settlement in federal financial prosecutions history. https://www.barrons.com/news/us-judge-approves-4-3-bn-penalty-for-crypto-giant-binance-189d4b92

I believe that despite the change in the CEO of Binance, the exchange's development trajectory has not changed, and it remains a top exchange with huge daily trading volumes. I somehow feel that CZ hasn't really stepped back from involvement, and his influence is still there. The main thing is that this news didn't particularly negatively affect the market, so it's not all bad in this situation.

It still remains to the be the top volume exchange. The new CEO doesn't have to change anything as during the reign and management of CZ, he's all set it so, there's not that much to think of for the new CEO but the settlements and fines that Binance itself had received. I don't even think that there's an anticipation that the change of leadership will impact negativity to the market itself or for the company per se. What matters there is that it is just going to make the operation keep going and as the new CEO might have a different approach, as long as things that have been set by CZ is working and 100% perfect for the system then he has to focus into cleansing of the issues that CZ has left.

Does Binance does any other violations that they should be sanctioned for aside from these matters that they've already settled? I think outside US, they might also face a lot of problems as it is creating a domino impact for most countries if they know that they can milk such money from them.

You are right. I hope that too.. It is good to see that everything is going well so far. New CEO is doing a pretty good job in maintaining everything. the only noticiable thing being happening is the rapidily listing several tokens and launchpools in short period of time.
which I think might be bad for long term because binance can loose crediblity if it keeps listing so many tokens one by one in short period of time. but maybe I am wrong maybe it'll increase binance's userbase and make it even bigger,

so does taht means all charges on him will be lefted?
I wonder if he will take back his position in binance or not  :)

Damn, I completely missed that news (not so new anymore) that CZ is out .

Well now the US prosecutors are asking CZ to run over his Canadian passport and all travel documents. They do not want him to try to leave the country before his trial date.

This does come after he agrees to pay $4.3 Billion settlement. https://bitcoinnews.com/legal/changpeng-zhao-confiscate-passports/