Binance Founder CZ Addresses Staff Following Guilty Plea, Emphasizes Resilience
In an internal memo to Binance staff, founder and former CEO Changpeng Zhao (CZ) expressed gratitude for their support following his guilty plea to several charges, including money laundering.
CZ acknowledged the challenges of navigating the legal process, including the time difference and restrictions on his communication. He assured the team that Binance will weather the storm and overcome upcoming structural changes.
Despite facing a potential 18-month prison sentence, CZ remained optimistic about the company's future, quoting a famous phrase from the movie Star Trek (2009) to encourage continued hard work: "I need everyone to continue performing admirably."
CZ urged staff members to support Richard Teng as he transitions into the role of CEO. The memo concluded with a message of resilience, emphasizing the need to endure some personal pain but assuring the team of Binance's survival.
While the memo did not delve into specific details regarding the charges or the guilty plea, it focused on conveying appreciation, acknowledging challenges, and instilling confidence in Binance's ability to navigate these difficult times.
Key Takeaways:
- Binance founder and former CEO Changpeng Zhao (CZ) issued an internal memo to Binance staff following his guilty plea to several charges, including money laundering.
- CZ expressed gratitude for the support received from the Binance team and acknowledged the challenges of navigating the legal process.
- He assured the team that Binance will weather the storm and overcome upcoming structural changes.
- CZ urged staff members to support Richard Teng as he transitions into the role of CEO.
- The memo concluded with a message of resilience, emphasizing the need to endure some personal pain but assuring the team of Binance's survival.
- CZ's sentencing hearing is scheduled for February 23 next year.