Binance has permanently removed former CEO Changpeng Zhao (CZ) from managing the company; however, he will still have significant influence as its majority shareholder, Axios reports.

✔️Earlier, it was reported that CZ's role would be limited for only 3 years.

Let’s recall that after pleading guilty, Zhao stated that he no longer intended to serve as CEO and would focus on investing in companies involved in blockchain, AI, and biotechnology.