Binance's CZ: 'I Made Mistakes', Confirms Richard Teng Will Takeover as CEO

Binance founder Changpeng Zhao (aka “CZ”) has officially resigned as CEO of Binance, he said in a tweet Tuesday, as the United States Department of Justice announced charges against Zhao and the exchange.

“I made mistakes, and I must take responsibility,” Zhao wrote. “This is best for our community, for Binance, and for myself.”

Zhao tweeted that Richard Teng, previously Binance’s Global Head of Regional Markets, will take over as CEO.

This story is breaking and will be updated with additional details.

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