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The Information has reported that Binance.US and its founder, Changpeng Zhao, who is also the majority shareholder and chairman, are exploring options to reduce Zhao's ownership stake in the cryptocurrency exchange.
CZ has been seeking to sell his shares since the previous summer, prior to the U.S. Commodity Futures Trading Commission filing a lawsuit against the exchange.
Executives at Binance.US have reportedly discussed how reducing Zhao's stake could improve the company's standing with regulatory authorities in the United States, as per The Information's report.
While Zhao holds Canadian citizenship, the specific location of his residence remains undisclosed.
When contacted for comment, a spokesperson from Binance.US declined to provide a statement.
Source Coindesk
