Changpeng Zhao has debunked stories making the rounds that he plans to return to Binance after serving his term in a U.S. prison.
The founder and former CEO of Binance was forced to step down following charges brought against him by the United States, News About Nigeria reports.
Zhao was charged with running a weak anti-money laundering (AML) program that violated the Bank Secrecy Act while he was CEO of Binance.
He was also accused of facilitating illicit transactions with sanctioned countries like Iran and Cuba, which led to his imprisonment for four months.
Following his imprisonment, the company appointed Richard Teng, a long-term employee of Binance, as CEO.
Speaking in a recent interview about his future plans after his release and whether he would return to Binance, Zhao revealed that he has moved on from that chapter of his life.
He said, “I don’t think I want to go back. I’ve been leading the company for seven years. I enjoyed it. It’s a lot of work. But I think that chapter is that chapter.”
The former Binance CEO further revealed that he has received numerous offers to sell his 90% stake in Binance since his release.
Speaking on the offers, Zhao noted that he has no plans to sell off his stake in Binance for now, though he doesn’t plan to hold on to it forever.
“I’m not saying that I’m going to hold on to the equity forever or not. I’m happy to review every offer, but so far, I haven’t done anything. But, you know, I’m just a regular shareholder at this point,” he said.
Though he is no longer the CEO of the largest cryptocurrency firm in the world, Zhao’s stake in Binance constitutes a significant portion of his wealth, which runs into billions of dollars.
His net worth reportedly grew by $12.1 billion on Wednesday night following Donald Trump’s victory in the polls. The Chinese-Canadian entrepreneur is now worth $52.7 billion, making him one of the richest men in crypto.
