So we got new CEO of Binance

[cryptoaddictchie]

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

[Andrija Branislav]

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.

[ultrloa]

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.

[cryptoaddictchie]

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.

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%

[bluebit25]

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.

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.

[Husires]

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.

[Cryptoababe]

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.

[Makus]

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.http://

[btc78]

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.

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.

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

[Kelvinid]

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.

[Bureau]

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. 

[super bako]

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.

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

[yazher]

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.

[Zanab247]

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.

[Kelward]

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.

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.  

[Tipstar]

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.

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.

[Oneandpure]

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.

[kentrolla]

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.

[bittraffic]

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

[irsykes]

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 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