Binance co-founder and former CEO Changpeng Zhao has stepped down from his position as chairman of the board of Binance.US, the US division of the crypto exchange.
According to the statement, CZ has transferred his voting rights, but has retained "a purely economic interest" in the company.
Binance.US has reported the platform is not a party to the settlement of claims by the US authorities against CZ and the exchange it previously ran.
The settlement includes Binance paying $4.3 billion, while CZ has agreed to pay a $50 million fine and resign as CEO of the company.