Binance founder Changpeng Zhao (CZ) has revealed that his exit as CEO of the world’s largest exchange was an emotional rollercoaster, drawing tears as he penned his farewell note in 2023. CZ disclosed that he is now focused on ecosystem projects on the BNB Chain and on interfacing with global regulators to advance cryptocurrency adoption.
An Emotional Departure For CZ From Binance
CZ publicly disclosed his state of mind during his 2023 exit from Binance as company CEO, revealing that the move was a painful departure. He shared his thoughts in a group media interview during the Binance Blockchain Week in response to questions over his decision to step down as CEO.
According to CZ, resigning as CEO forced him to shed tears at 4 am while penning his “stepping-down blog” in Seattle. He added that recovering from the emotional rollercoaster of exiting his role as CEO took a while “to get over it.”
“When I stepped down as Binance CEO, I actually cried,” said CZ. “When I was writing that blog, stepping down, I actually cried, and it was like 4 am in Seattle.”
CZ served as CEO since Binance’s launch in 2017, guiding it to become the largest cryptocurrency exchange despite its late entry to the ecosystem.
Back in November 2023, CZ formally announced his resignation as Binance CEO as part of settlement terms with US authorities, capping a yearlong investigation into alleged money laundering and sanctions violations.
On the same day he resigned, the Binance founder admitted to failing to comply with US anti-money laundering (AML) regulations, eventually serving a four-month prison term. Richard Teng filled in CZ’s shoes as the new Binance CEO, with the founder remaining the largest shareholder.
Life After Stepping Down
After his exit as Binance CEO, CZ revealed that he “had nothing to do” for the first year, opting to spend his time snowboarding. One year later, he expressed delight in Binance’s ability to thrive without him, noting that “life is great.”
CZ added that he is involved in BNB Chain projects, supporting a diverse pool of ecosystem initiatives. Since leaving Binance, CZ has launched Giggle Academy, a non-profit education initiative that provides hundreds of lessons to over 88,000 children globally.
Furthermore, CZ continues to play a leading role at YZi Labs, a venture capital firm with investments that span beyond Web 3, including artificial intelligence (AI) and biotechnology. In October 2025, US President Donald Trump granted an executive pardon to CZ, sparking widespread uproar from the administration’s critics.
Source: https://zycrypto.com/cz-recalls-his-tearful-exit-as-binance-ceo-shifts-focus-to-bnb-chain/
