Changpeng 'CZ' Zhao and His Stake in Binance

Changpeng 'CZ' Zhao, former CEO of the crypto exchange Binance, told Bloomberg that he received offers for his controlling stake in the firm.

CZ did not specify if he plans to sell the shares, for how much, or to whom. His equity in Binance represents a significant portion of his estimated $53 billion net worth, which notably increased by over $12 billion immediately after the United States presidential election, according to the Bloomberg Billionaire Index.

CZ mentioned that he is open to reviewing every offer he receives, though he hasn’t acted on them so far.

In November 2023, CZ pled guilty to violating the Bank Secrecy Act. In a deal with the United States Department of Justice, he agreed to pay a $50 million fine and resign as CEO of Binance. He was sentenced to four months in prison and released on September 27, as reported by The Block.