Binance founder and former CEO Changpeng Zhao, also known as CZ, has received a lifetime ban from Binance. Initially, the ban was thought to last three years, but recent reports from Axios confirm it is indeed permanent.
This lifetime ban will prevent CZ from returning to any leadership position at Binance. Authorities charged him with multiple violations relating to the operations and practices of Binance.
The fine imposed on CZ amounts to $50 million, and he has also served jail time, marking a significant downfall for one of the most prominent figures in the cryptocurrency industry.
