Binance’s CZ To Reduce Stake in U.S. Business Over Regulatory Fears
- Binance.US is trying to improve relations with regulators.
- Binance Chief Changpeng Zhao reportedly seeks to cut his majority stake in the U.S. business.
- Zhao and the global business have a rocky relationship with U.S. regulators.
With U.S. regulators clamping down on crypto businesses, several industry participants are exploring avenues to avoid drawing their ire. One such business is Binance.US.
The crypto exchange’s global arm notably has a shaky relationship with regulators. Fearing that this relationship could mar how the U.S. business is viewed by regulators, Binance.US and its founder Changpeng “CZ” Zhao, are reportedly exploring avenues to reduce his shares in the company.
Zhao to Reduce Binance.US Stake
Zhao, Binance.US’s majority shareholder, has been exploring avenues to sell a portion of his shares since the summer of 2022, according…
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