Benzinga - Former Binance (CRYPTO: BNB) CEO Changpeng Zhao recently shared his personal reflections and future outlook following his legal entanglements.
Zhao said he was dealing "with some pain," but would "survive."
He encouraged Binance employees to "continue performing admirably" — a quote from Mr. Spock in the 2009 "Star Trek" movie.
Binance and Zhao have pleaded guilty to federal charges, agreeing to a settlement with the U.S. Justice Department totaling over $4 billion.
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Zhao, who founded Binance in 2017, admitted to not upholding an effective anti-money laundering program, breaching the Bank Secrecy Act.
The company acknowledged operating without a proper money transmitting license, and breaching the International Emergency Economic Powers Act, according to the Justice Department.
In the internal memo issued to Binance employees, Zhao noted the stress of legal proceedings, the physical toll of jet lag and being without his phone.
In his message, Zhao refrained from repeating the details already communicated by the company's communications team.
Instead, he focused on expressing pride in the team's work, both past and present, and confidence in their future endeavors.
He reassured his staff that Binance would remain stable and resilient, even as he personally navigates through a period of difficulty.
Zhao candidly admitted that he would have to endure some pain, but was confident in his ability to survive the ordeal.
He hinted at upcoming changes in the company's structure but suggested that these might be viewed positively in hindsight.
With a touch of humor, Zhao mentioned needing a break, which he has now involuntarily received.
He also took the opportunity to ask his team to support Richard Teng, Binance's new CEO.
Zhao also announced his intention to speak briefly at the upcoming town hall meeting.
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Image: Wikimedia
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