Quote from: terrific on December 13, 2023, 11:00:45 PM

Quote from: JayJuanGee on December 12, 2023, 10:55:48 PM

Quote from: terrific on December 12, 2023, 10:05:18 PM

While CZ seemed to save Binance and it will continue to operate without having troubles, he's got his own battle to face on the next one.
Anyway, he's got a lot of money that's in the form of crypto just as he said before that he don't hold that much fiat. So, I guess that he'll be force to sell large sums of holdings that he's got so that he can have funds to defend himself with these lawsuits that are filed personally against him.

If CZ was working in his business capacity, then there might not be an ability to "pierce the corporate veil" and to go after CZ personally, but even if they do, it is likely still going to be a company expense to cover their officers who are carrying out their official duties.

Yeah, seems like that's what will happen.
I doubt it that CZ's connection with Binance has entirely been gone after his resignation but that's not how it goes. There's the succession process and period of it.
And with that, I still believe that he's got a lot of his own fund to face this but he's a wise man and probably will still use most of his shares from the company.

I am pretty sure that CZ is a majority owner of the company, and he did not have to give up his shares. Furthermore, even if CZ were an Ex-executive, if he is being sued for his acts or his lack of acts while he was the CEO, then the company would still most likely end up paying for his legal bills. Many times the behavior would have to be so far outside of the scope of expected and/or normal duties before a company would not defend their CEOs and/or their ex CEOs - and that is even if we were to presume that CZ has been abandoned by the company, which the company could not even abandon him if they want, if he is the main owner. Sure, his going to jail and also being isolated from his ability to be able to move outside of the USA, might be causing a decent amount of burdens on CZ's abilities to communicate and move as easily as he would like to be able to do, but maybe he is already used to working in such a way, and if there are are already various dedicated executives in place, they are still able to largely carry out CZ's wishes, even though likely there does need to be a decent amount of severance of his actually day to day running of the company which would done through the new CEO, who is presumptively a person who CZ hand-picked. .. but yeah, I am not going to proclaim that CZ's various legal burdens are not also potentially causing various strains on Binance, which likely is part of the intent of the US government to cause such burdens while acting like they are not intending to cause such burdens and strains upon Binance and CZ.