CZ Weighs Selling His Binance Shares
In a recent interview, Changpeng Zhao (CZ), the ex-CEO of Binance, shed light on his present association with the crypto platform and the potential sale of his controlling shares. Learn why the billionaire entrepreneur is not eager to sell now and his thoughts on the updates to social network X.
On this page
Just a day before the U.S. presidential election where Donald Trump emerged victorious, former Binance CEO Changpeng Zhao (CZ) sat down for an exclusive interview with Bloomberg. His wealth has since climbed to $53 million, buoyed by a significant rise in the cryptocurrency market.
CZ made it clear during the discussion that he has no desire to return as Binance’s CEO, a move precluded by an agreement with the government. He also acknowledged receiving inquiries about selling his controlling stake in Binance, though he kept the details, such as the potential buyer and deal value, confidential.
I’m not saying that I’m going to hold onto the equity forever or not. I’m happy to review every offer, but so far I haven’t done anything. But, you know, I’m just a regular shareholder at this point,
CZ added.
Even with a controlling interest, CZ noted that the current management of the platform seldom reaches out for his input, and he doesn’t feel compelled to provide guidance when they do. He views himself as a passive investor in the crypto space, channeling his resources into promising projects and AI developments.
CZ is also among the investors involved in the acquisition of platform X before his arrest, though he maintains a reserved attitude toward this investment. Despite that, he applauded Elon Musk’s innovative methods and the swift progress of the former Twitter, highlighting the addition of new functionalities.
While imprisoned, CZ went largely unnoticed until rumors of a “wealthy crypto inmate” surfaced. Some guards even sought his market advice, but with no internet access, he was unable to assist them.
The content on The Coinomist is for informational purposes only and should not be interpreted as financial advice. While we strive to provide accurate and up-to-date information, we do not guarantee the accuracy, completeness, or reliability of any content. Neither we accept liability for any errors or omissions in the information provided or for any financial losses incurred as a result of relying on this information. Actions based on this content are at your own risk. Always do your own research and consult a professional. See our Terms, Privacy Policy, and Disclaimers for more details.
Articles by this author
