{"id":7744,"date":"2023-05-12T08:24:43","date_gmt":"2023-05-12T12:24:43","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/binance-us-contemplates-lowering-founder-changpeng-zhaos-stake-amid-regulatory-concerns\/"},"modified":"2023-05-12T08:24:44","modified_gmt":"2023-05-12T12:24:44","slug":"binance-us-contemplates-lowering-founder-changpeng-zhaos-stake-amid-regulatory-concerns","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=7744","title":{"rendered":"Binance.US Contemplates Lowering Founder Changpeng Zhao\u2019s Stake Amid Regulatory Concerns"},"content":{"rendered":"
\n

Binance\u2019s US-regulated branch Binance.US is reportedly seeking ways to reduce Binance founder Changpeng Zhao\u2019s stake in the company due to concerns over a regulatory crackdown on Zhao\u2019s international business empire.<\/p>\n

To reduce the perceived regulatory risk in the US, Changpeng Zhao, better known as CZ, has tried to sell at least a part of his stake in Binance.US, The Information reported on Thursday, citing two sources \u201cfamiliar with the matter.\u201d<\/p>\n

CZ\u2019s attempts to reduce his stake have been ongoing since at least last summer, the report added.<\/p>\n

According to the report, Binance.US\u2019 senior management believes that reducing CZ\u2019s ownership stake in the company would make US regulators view it in a more favorable way, particularly in light of an ongoing crackdown on the crypto industry in the country.<\/p>\n

Notably, it is believed that CZ\u2019s large stake in Binance.US could make it impossible for the firm to obtain the necessary licenses to operate legally in the US and that reducing his ownership would therefore be necessary.<\/p>\n

CZ and Binance were in March sued by the Commodity Futures Trading Commission (CFTC) over alleged securities law violations, including allowing US traders to trade crypto derivatives on its international exchange.<\/p>\n

Binance has responded to the allegations by claiming the lawsuit contains \u201can incomplete recitation of facts,\u201d and CZ has also personally called the lawsuit \u201cunexpected and disappointing.\u201d<\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Binance\u2019s US-regulated branch Binance.US is reportedly seeking ways to reduce Binance founder Changpeng Zhao\u2019s stake in the company due to concerns over a regulatory crackdown on Zhao\u2019s international business empire. To reduce the perceived regulatory risk in the US, Changpeng Zhao, better known as CZ, has tried to sell at least a part of his […]<\/p>\n","protected":false},"author":1,"featured_media":7745,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-7744","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"\nBinance.US Contemplates Lowering Founder Changpeng Zhao\u2019s Stake Amid Regulatory Concerns | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Binance\u2019s US-regulated branch Binance.US is reportedly seeking ways to reduce Binance founder Changpeng Zhao\u2019s stake in the company due to concerns over a\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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