Binance France Appoints Two New Shareholders to Replace Zhao Changpeng
CryptoNewsTerminal Staff28 May, 2024
Binance France Appoints Two New Shareholders to Replace Zhao Changpeng
Binance France has appointed two new shareholders to replace former CEO Zhao Changpeng, who was removed from his position last November due to criminal charges. The new shareholders are Allan Yan and Lihua He, both founding members of Binance. Yan is also the co-founder of the now-defunct Chinese cryptocurrency exchange Bijie Tech. Changpeng previously owned 100% of the shares in Binance France, but under current French law, he was stripped of his status as a major shareholder after admitting to criminal charges. The shares in Binance France are now 50% owned by Yan and He. This move comes as Binance faces increasing regulatory scrutiny around the world. The company has been accused of operating without a license in several countries, and its executives have been summoned to testify before regulators in the United States and the United Kingdom. Despite these challenges, Binance remains one of the largest and most popular cryptocurrency exchanges in the world. The company has a strong presence in France, and it is likely that the appointment of new shareholders will help it to continue to grow its business in the country.
