Binance France Replaces CZ With New Shareholders � Cryptomode

Cryptomode_202429 May, 2024Business

Binance has dropped Changpeng Zhao (CZ) as the head of the exchange?s French subsidiary and has introduced two new shareholders that will replace CZ, who will spend around four months in jail after a guilty plea last year. According to a report from DL News, the new shareholders are Ylong Yan and Lihua He, each holding 50% of Binance France. Yan, also known as Allan Yan, was a co-founder and product director at the now-defunct Chinese exchange Bijie Tech. However, Binance did not provide further details about He.