What a shocking event this morning when CZ resigned as CEO and replaced by Richard Teng as the new CEO. With the SEC plead guilty issue of CZ. Well this si unexpected news knowing CZ built the Binance so strong. Anyway with the new CEO possible new eras and new beggining for Binance.
Indeed. It is very surprising news, no one expects that CZ will resign from his position as Binance CEO. However, CZ may think it is the best solution to secure the existence of Binance exchange. CZ seems to plan facing the SEC lawsuit alone, without involving Binance too much. If his status is still Binance CEO, it may ruin the reputation of SEC and there are probably some other bad impacts in the future.
Richard Teng is the right person to be Binance CEO. He has great track record, he has done some good things for Binance development. However, we think deeply, it is about the status of Binance CEO only. The ownership of Binance exchange is still CZ, so everything should be still in CZ's control. I don't think it will be the beginning of Binance era.