Changpeng Zhao rules out return as Binance CEO

Changpeng “CZ” Zhao said he will not return as chief executive of Binance and that the company no longer needs him at the helm. He stepped down in November 2023 and told an interviewer he does not want to run the global exchange, its U.S. affiliate or sit on corporate boards.

Zhao left the role as part of a U.S. settlement in which Binance pleaded guilty to money-laundering and sanctions violations and agreed to pay $4.3 billion in penalties. Zhao pleaded guilty to a related charge and served four months in federal prison. Richard Teng, a former regulator, succeeded him and has overseen a broad compliance overhaul since taking over.

On the prospect of returning, Zhao said, “I don’t think they need me, but in the future… anything could happen.” He emphasized that operational control rests with current leadership.

Outside the executive suite, Zhao is advising about a dozen governments on cryptocurrency regulation and asset tokenization and is mentoring founders building on the BNB Chain through his investment firm, YZi Labs. He launched Giggle Academy, a free education platform aimed at improving crypto literacy and developer training.

Zhao remains one of Binance’s largest stakeholders and his public comments continue to influence markets. He disputed claims that Binance caused a wave of market liquidations earlier in the year. Earlier this year he predicted a 2026 bitcoin “super-cycle”; he later said there was no single explanation for a sharp market decline in the first half of the year, pointing to geopolitical tensions, investor rotation into artificial intelligence stocks and the industry’s four-year cycle.

Regulators have monitored the company’s compliance changes since the plea agreement. Teng has maintained day-to-day control and overseen implementation of the settlement terms.