CZ Offered to Sell Binance Stake

Former Binance CEO Changpeng Zhao recently told Bloomberg that he was offered to sell his stake in the Binance exchange. 

However, the cryptocurrency tycoon did not spill the beans about who actually came up with that proposal. 

According to Forbes, the net worth of the Binance head is estimated to be $61 billion, which makes him one of the richest people on the planet. His 90% stake in the cryptocurrency behemoth accounts for the lion’s share of his fortune. 

It is not clear how much Zhao was offered for his stake in the exchange. 

The billionaire has stated that he was open to new offers. With that being said, he is yet to decide how long he is going to hold his Binance stake.

Zhao, who stepped down as the Binance CEO last November, told Bloomberg that he did not actually want his job back, arguing that it is a closed chapter in his life. The former Binance CEO says that his "kid" is now a grown-up. 

He described himself as a "regular shareholder" after some concerns were raised over his outsized influence.

As reported by U.Today, Zhao has been barred from running the world's leading cryptocurrency exchange ever again by U.S. authorities. 

Earlier this year, he served a jail sentence after pleading guilty to violating anti-money laundering rules.

Speaking of his time at the Lompoc II correctional facility, Zhao said that was referred to as "big Bitcoin guy." Even though he is a celebrity in crypto circles, many inmates initially did not know who he was. Some eventually asked CZ for cryptocurrency investment advice. Zhao became particularly friendly with one crypto-savvy bank robber.