In the wake of leaving his role at Binance, the world’s leading cryptocurrency exchange, Changpeng ‘CZ’ Zhao has shared his future intentions in the digital currency sector.
As seen in a CoinDesk article published on Monday, Zhao highlighted his interest in passive investing and DeFi. He made his plans public via a post on X, formerly known as Twitter, indicating his likely future role as a minority token/shareholder in startups operating within blockchain, Web3, DeFi, AI, and biotech sectors.
Zhao conceded that he is unlikely to take up another CEO position and is open to providing private mentorship to a select group of emerging entrepreneurs. Despite his resignation, Zhao will maintain his shareholder status at Binance and offer consultation services as needed.
His decision to step down as CEO of Binance followed a guilty plea to U.S. criminal charges. Richard Teng, who previously oversaw the exchange’s regional operations outside of the U.S, has been named as Zhao’s successor.
The shift in Zhao’s career trajectory towards passive investing and DeFi is noteworthy, given Binance’s significant role in the crypto exchange arena. His experience and continued involvement in Binance could provide valuable insights and mentorship to new startups in the sector. The change also comes during a time when the focus on blockchain, DeFi, and AI technology is intensifying, potentially opening new avenues for innovation and investment in these areas. Zhao’s guilty plea and subsequent resignation underscore the regulatory challenges faced by the crypto industry, particularly for major exchanges like Binance.