CZ seeks to reshape Binance US role

• Binance founder Changpeng Zhao said he wants to improve understanding of his role after stepping down as chief executive.
• Zhao argued that Binance.US could improve pricing for American users by accessing deeper global crypto liquidity.
• He said his focus is on supporting founders and promoting crypto adoption in the United States rather than returning to a CEO role.

Changpeng Zhao, known as CZ, said he is working to clarify public perceptions of himself and Binance while advocating for greater crypto adoption and improved market liquidity in the United States.

His comments come after he stepped down as Binance chief executive, served a four-month prison sentence and later received a presidential pardon, while remaining the largest shareholder of both Binance and Binance.US.

“I've perceived there's a lot of misunderstandings about Binance, about myself,” said Binance founder Changpeng Zhao.

Zhao said Binance.US is exploring ways to provide American users with access to deeper liquidity, arguing that limited liquidity can lead to higher trading costs and greater slippage compared with international markets.

He said he has no plans to return as chief executive of an exchange or other company and prefers advising founders from the background, while following the announcement the Binance share price was unchanged at N/A because the company is privately held.

Zhao said Binance and Binance.US operate independently with separate management teams, leadership structures and investor groups despite sharing him as their largest shareholder.

He also said he continues to monitor broad performance indicators such as user numbers, trading volumes and Bitcoin (CRYPTO:BTC) prices, while focusing much of his time on investments including Giggle Academy and YZi Labs.

At the time of reporting, Bitcoin price was $60,639.53.