Can Binance & Changpeng Zhao reduce his stake?

REUTERS/Costas Baltas May 11 (Reuters) - Binance.US and Changpeng Zhao, the crypto exchange's founder and majority owner, have been exploring ways to reduce his stake in the company, the Information reported on Thursday, citing two people familiar with the matter.

Who is the CEO of Binance?

Binance was founded by its CEO Changpeng Zhao, a Chinese-Canadian developer commonly referred to as CZ who had previously created high frequency trading software. Zhao started working for the Tokyo Stock Exchange developing software for matching trade orders after leaving college before joining Bloomberg Tradebook.

Did Zhao & Binance secretly allow US customers to trade on Binance?

Among other things, the SEC alleges that, while Zhao and Binance publicly claimed that U.S. customers were restricted from transacting on Binance.com, Zhao and Binance in reality subverted their own controls to secretly allow high-value U.S. customers to continue trading on the Binance.com platform.

Which countries does Binance have subsidiaries in?

As of September, Binance had subsidiaries in countries including Spain, Italy, France, Bahrain, and the United Arab Emirates, Zhao added. Binance CEO Changpeng Zhao attending the Viva Technology conference in Paris on June 16, 2022. Zhao catapulted to mainstream attention earlier this year as he became one of the richest people on Earth.