CZ Rules Out Return as Binance CEO

From the Top Job to the Sidelines

Changpeng Zhao, the billionaire who built Binance into the world’s largest cryptocurrency exchange, has poured cold water on speculation that he might retake the chief executive role he gave up in 2023. In an interview, Zhao (universally known as CZ) said he has no plans to return as CEO, even as his influence over the exchange and its BNB token remains unmistakable. He added:

“I don’t think they need me, but in the future… anything could happen.”

CZ stepped down as Binance’s chief executive in November 2023 as part of a settlement with U.S. authorities, in which the exchange pleaded guilty to money-laundering and sanctions violations and agreed to pay $4.3 billion in penalties. Zhao personally pleaded guilty to a related charge and served four months in a U.S. federal prison. Richard Teng, a former regulator, took over as CEO and continues to run the company.

Since his release, CZ has repeatedly said he is content outside the corner office. He told the interviewer that he does not want to run the global exchange he largely owns, its U.S. affiliate, or be a chief executive and sit on any boards.

What CZ Is Doing Instead

Rather than a return to day-to-day management, Zhao has spread his attention across several ventures, advising roughly a dozen governments on cryptocurrency regulation and asset tokenization. He has also launched Giggle Academy, a free education platform, and continues to mentor founders building on the BNB Chain ecosystem through his investment firm, YZi Labs.

Moreover, Zhao pushed back against accusations that Binance played a role in a sharp wave of market liquidations. Earlier this year, he predicted 2026 would be a “super-cycle” for bitcoin, a call that has not aged well. He later acknowledged there was no easy explanation for why crypto markets had fallen so sharply in the first half of the year, pointing to geopolitical tension, investors rotating into artificial intelligence (AI) stocks, and the industry’s familiar four-year cycle.

Still a Force in Crypto

Although CZ holds no official position at Binance, his presence still looms over the exchange and the broader BNB ecosystem. He remains among its largest stakeholders, and his social-media posts routinely move markets. His latest comments appear aimed at quieting recurring speculation that he is preparing a return to the top job.

Teng, for his part, has steered the exchange through a demanding compliance overhaul since taking over, and a high-profile return by the founder could have complicated the company’s relationships with regulators around the world.