CZ Asserts He Will Never Sell His Stake in Binance

Despite receiving a buyout offer for Binance shares, CZ has affirmed that he will never sell. He currently holds up to 90% of Binance's shares.

Cz Asserts He Will Never Sell His Stake In Binance

In an exclusive interview with Bloomberg just before the U.S. presidential election results, former Binance CEO Changpeng Zhao (CZ) shared notable insights. This marked his first interview with a mainstream media outlet since completing his four-month prison sentence at the end of September 2024 for money laundering violations, as per an agreement with the U.S. Department of Justice.

Beyond the prison term, Binance was fined $4.3 billion, and CZ was banned from returning to the company’s leadership for three years. Current CEO Richard Teng even hinted that the ban might be indefinite.

When asked about the possibility of returning to Binance, CZ affirmed:

I don’t think I want to go back. Leading the company for seven years was a memorable journey; it was challenging, but I fully enjoyed it. Now, I feel that chapter of my life has closed.

Although no longer in control, CZ remains Binance’s largest shareholder with a 90% stake. According to Forbes’ June 2024 estimate, Binance is valued at around $33 billion, meaning CZ’s holdings are worth $30 billion. Including the BNB held by the exchange, his net worth could exceed $60 billion. Bloomberg’s separate assessment lists CZ’s assets at $52.7 billion, with an increase of $12.1 billion following Donald Trump’s election win, placing him 25th among the world’s wealthiest individuals.

CZ Asserts He Will Never Sell His Stake in Binance
CZ Asserts He Will Never Sell His Stake in Binance

Notably, CZ revealed he had declined several offers to buy his Binance shares but withheld details about the potential buyers and the size of the stake offered. He shared:

I’m not saying I’ll hold onto this stake forever, and I’m open to considering offers, but I haven’t made any decisions yet. For now, I’m simply an ordinary shareholder.

Regarding the $500 million investment in Elon Musk’s social network X (formerly Twitter) in 2022, CZ expressed confidence in the long-term vision and the improvements Musk has made, even though X’s value has since significantly declined.

Related: CZ Comeback and Immediate Introduction of a New Project

At the end of October, CZ made his first public appearance at the Binance Blockchain Week 2024 conference in Dubai. There, he confirmed he would focus on his educational project, Giggle Academy, along with other personal investments.

(17 votes)

4.9/5

(17 votes)

Latest

Bunni Dex Shuts Down After $8.4 Million Hack

News | Altcoin | Editor Choice

Bunni DEX Shuts Down After $8.4 Million Hack

After suffering a devastating $8.4 million hack, decentralized exchange protocol Bunni DEX has officially announced its shutdown. This marks the second crypto project to fold in October, following Kadena Organization’s recent decision to halt operations amid mounting difficulties. The $8.4 Million Exploit: How It Happened The attack occurred on September 2, when a hacker exploited

The Crypto Etf Wave Hits, Over 200 Funds Set To Launch Soon

News | Editor Choice | Policy & Regulations

The Crypto ETF Wave Hits, Over 200 Funds Set to Launch Soon

Crypto ETF Explosion: The market is on the verge of a massive wave of investment products, with 155 ETF filings currently awaiting approval — spanning 35 digital assets from Bitcoin and Ethereum to even political meme coins.

Binance Spot Bitcoin Trading Volume Surges

News | Bitcoin | Editor Choice

Binance Spot Bitcoin Trading Volume Surges, Signaling Possible Market Recovery

Binance’s Spot Bitcoin trading volume has unexpectedly surged amid whale sell-offs and widespread liquidations, signaling renewed accumulation and a potential recovery in Bitcoin’s price in the near future.

World’s Richest Youtuber Mrbeast Registers His Own Finance And Crypto Brand

News | Editor Choice | Policy & Regulations

World’s Richest YouTuber MrBeast Registers His Own Finance and Crypto Brand

The world’s richest YouTuber, MrBeast, has made a bold move into the world of finance and cryptocurrency with his new brand “MrBeast Financial”, signaling his ambition to build a global fintech empire.

Deepseek Surpasses Grok And Openai In Crypto Trading Showdown

News | AI | Editor Choice

DeepSeek Surpasses Grok and OpenAI in Crypto Trading Showdown

DeepSeek is making waves across the crypto and tech communities as it takes the lead in Alpha Arena — a live crypto trading competition among the world’s top artificial intelligence models, outperforming both Elon Musk’s Grok and OpenAI’s GPT-5.

Screenshot 2025 10 20 091338