Changpeng Zhao Open to Selling Binance Stake Following Offers
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Binance founder Changpeng "CZ" Zhao, recently revealed in an interview with Bloomberg that he has received proposals for the sale of his controlling stake in the exchange.
However, he did not disclose details regarding the potential buyers, the price, or whether he plans to proceed with any deal.
Zhao’s stake in Binance is a key part of his substantial net worth, which is estimated at $53 billion. His wealth notably surged by over $12 billion following the recent U.S. presidential election, according to the Bloomberg Billionaire Index.
Despite these offers, CZ made it clear that he’s not committed to keeping his ownership indefinitely. He remains open to evaluating potential transactions, even though no actions have been taken as of now.
In November 2023, CZ pleaded guilty to a violation of the Bank Secrecy Act. As part of an agreement with the U.S. Department of Justice, he paid a $50 million fine and agreed to step down from his role as CEO of Binance. After serving a brief prison sentence, he was released in late September 2024.
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