Just one day after stepping down as CEO of cryptocurrency exchange Binance following a Department of Justice indictment alleging sanctions violations, Changpeng Zhao took to Twitter to address his sudden career shift.
CZ expressed gratitude for the overwhelming support he has received after announcing his unexpected early retirement. The tweet offered a glimpse into Zhao’s current mindset and the unexpected nature of his transition.
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CZ says he is enjoying his free time
As Zhao grapples with this significant life transition, he shares that friends have described him as having a “resilient mindset.” While he remained uncertain about the accuracy of this characterization, he labeled himself as “mentally stable” amidst uncertainty.
“I often joked about wanting to retire early. I guess I also often joked about “careful what you wish for” too,” CZ said in his tweet.
The former executive is focusing on enjoying his unplanned extra free time. However, he also mentioned that he is getting used to the transition.
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Of course, the DOJ’s indictment represents an existential threat not just to Zhao’s career but also to Binance’s operability within the crucial US market and dollar-dominated global financial ecosystem.
Though stepping down as CEO, Zhao retains influential positions across Binance’s corporate structure. The $4.3 billion settlement is hailed as one of the largest against a crypto firm.