He has been permanently banned from operating or supervising Binance, so even if he wanted to return, he wouldn't be able to. Furthermore, in his latest tweet on X, he also emphasized once again that Binance has matured enough and no longer needs his leadership.
https://x.com/cz_binance/status/1840265403882152232obvious gesture that he'll focus on other thing to comply, not that he need to go back at the forefront of binance anyway, man could live his dream already with that much of money on his wallet.
as for binance, I think the exchange itself was never created to only center around CZ's decision, the fact that binance also acquire smaller exchange in various countries also speaks a lot.
moving on I'd expect new CEO to take the spotlight, although so far there has been no strong decision taken and instead just follow binance's routine of investing to some smaller projects here and there and occasionally listing trending coins.