# CZ Ban

*CZ Banned for Life from Managing Binance: A New Era for the Crypto Giant*

By [aundingoya.eth](https://paragraph.com/@aundingoya.eth) · 2024-09-10

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Changpeng ‘CZ’ Zhao has been banned for life from managing Binance as part of a plea deal with U.S. authorities, following his guilty plea to money laundering charges. While he retains his position as the largest shareholder, CZ will no longer have any operational role in the company.

**Key Points:**

\- **Lifetime Ban:** CZ is permanently barred from managing Binance.

\- **Shareholder Status:** He remains the biggest shareholder but without direct management control.

\- **Leadership Change:** CEO Richard Teng confirmed CZ’s lifetime ban.

\- **Jail Sentence:** CZ will complete his sentence on September 29, 2024.

As Binance enters a new phase under Teng’s leadership, CZ is set to explore new opportunities in blockchain, education, AI, and biotech.

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*Originally published on [aundingoya.eth](https://paragraph.com/@aundingoya.eth/cz-ban)*