Binance, the world's largest cryptocurrency exchange, agreed with the US government in the lawsuit filed against it.
As part of this agreement, CZ resigned as CEO of Binance.
Sharing his resignation on his X account, CZ announced that Binance's new CEO is Richard Teng.
Afterwards, CZ sent a letter to Binance employees and started his speech by thanking them for their sincere feedback.
Stating that it was a difficult day for him, CZ said that he spent most of his time in court and could not look at his phone.
Stating that he received many nice and positive messages, CZ continued his words as follows:
“Thank you everyone for your warm, caring and touching words. Due to the volume of messages I am receiving right now, I cannot respond to them individually. So I will say this here.
It's definitely been a difficult day for me, this has been an unusual time for me and I've been in court without access to my phone for most of the day. I wrote the tweet at 4am.
Between the other lengthy legal documents I had to review, I really didn't have time to write an internal memo in advance.
I think our communications team did a great job. I will not repeat what has been said before.
I just want to say this; I am proud of your work today, past and future.
Binance will be fine.
I will have to suffer a little, but I will survive. Even though there will be some changes in the structure, we will achieve this. “When we look back in a few years, it might not have been such a bad thing.”
Regarding his resignation, CZ said, “I needed a break anyway.” “I need everyone to continue to perform admirably,” he said from the movie Star Trek (2009). He quoted the sentence.
Finally, CZ asked Binance employees to assist Richard Teng in his new role.