Binance.US, headed by Changpeng Zhao, is considering ways to reduce Zhao's dominance in the company. This notion was reported by The Information, a news service well known for its cryptocurrency coverage. Before last summer, Zhao had the idea to transfer his considerable ownership stakes, but the move was taken up again recently when the U.S. Commodity Futures Trading Commission (CFTC) sued the company. Executives from Binance.US examined the advantages regarding regulatory authorities in the U.S. should CZ's ownership decrease.

Changpeng Zhao is the majority shareholder, chairman and founder of the crypto exchange. Born in Jiangsu, China, but currently a Canadian citizen, his exact current location is unknown. There were talks of him relocating to Caribbean shores a while back but no answers have ever been confirmed. His vast experience in the crypto skyrocketing him to the head of the company, with his now celebrity-like status in the industry.

The steps taken by CZ, to lessen this ownership, may be a double-edged sword. It would give the exchange an air of respectability in the minds of U.S. institutions, however it may also render Binance.US vulnerable, having have its number one back in a lesser position. This event would wholly depend on who is tackled to take up the shares, as whoever does should theoretically have at least the same understanding of cryptocurrency’s deployment as CZ.

In conclusion, Binance.US is looking into tactics for lessening CZ’s ownership in the company by exploring elaborate measures to help the company’s esteem in eyes of American regulatory forces. The consequence of this move is uncertain, as the right candidate to take up the shares is yet to be discovered and that person must be acutely knowledgeable in the world of cryptocurrencies.



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