CZ's Thanksgiving Tweet: A rollercoaster of twists and turns - currently enjoying the unexpected leisure time of retirement.

Yesterday, on Thanksgiving Day in the United States, Binance founder Changpeng Zhao (CZ), who has already confirmed a plea deal, made a statement about his "retirement," stating that he is "enjoying" the sudden free time he now has and thanking everyone for their concern.

Take a Break and then Engage in Passive Investments

In his resignation statement, CZ once said that he had never truly taken a day off in the past 6 and a half years, always keeping his phone on.

Now that everything has settled, the experienced Richard Teng has taken over as CEO of Binance. CZ mentioned that he will take a break first. Afterward, he may engage in some passive investments and become a minority shareholder in startups in the blockchain/Web3/DeFi, artificial intelligence, and biotechnology fields.

Who is Richard Teng, the successor to CZ as CEO of Binance, who quickly took over regions outside the United States?

Although the settlement allows Zhao Changpeng to retain the majority of his shares in Binance, he will not be able to hold an executive position in the company. CZ's sentencing hearing is scheduled for February 23 next year. Due to the judge's belief that CZ has actively addressed the issues and poses no significant flight risk, the court may approve CZ to return to his residence in the UAE first and return to the U.S. 14 days before the hearing.