6 months ago
Binance CEO shifts focus to education amid DOJ plea deal
Changpeng Zhao's New Direction After Binance
Former Binance CEO Changpeng Zhao faces a lifetime ban from day-to-day management following a DOJ plea deal. However, as majority shareholder, he retains significant influence over the company.
Zhao, as the largest shareholder, still retains 'all shareholder rights,' including the ability to nominate board members and replace executives.
Legal experts highlight ambiguities in the plea deal, raising questions about Zhao's potential ongoing involvement. Meanwhile, Zhao has launched Giggle Academy, an educational platform for underprivileged children in developing countries.
- Lifetime ban from day-to-day management of Binance
- Retains influence as majority shareholder
- Legal ambiguities in plea deal terms
- Launch of Giggle Academy educational platform
- Use of gamification and NFT badges in new venture
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