Binance.US Explores Ways to Cut Founder Changpeng Zhao’s Majority Stake

Binance.US and Changpeng Zhao, the crypto exchange’s founder, majority owner and chair, have been exploring ways to reduce his stake in the company, two people familiar with the matter said.

Zhao has been trying to sell at least some of his stake since last summer, one of the people said. And in recent weeks, since the Commodity Futures Trading Commission sued Zhao’s international crypto firm Binance for allegedly violating U.S. derivatives laws, Binance.US leaders have discussed how such a move might help improve the company’s standing in the eyes of U.S. regulators, the second person said.

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