In recent months, Binance, the world’s largest cryptocurrency exchange, has been facing a number of regulatory issues. This has caused some to speculate that the company’s CEO, Changpeng Zhao, may be looking for an heir apparent to take over the reins of the company.
The regulatory issues began in March when the U.S. Securities and Exchange Commission (SEC) issued a cease-and-desist order to Binance for operating an unregistered securities exchange. This was followed by a warning from the Financial Action Task Force (FATF) that Binance was not compliant with its anti-money laundering (AML) and counter-terrorist financing (CTF) regulations.
These regulatory issues have caused some to speculate that Zhao may be looking for someone to take over the company. This is because Zhao has been vocal about his desire to focus on the development of the Binance Chain, a blockchain-based platform for decentralized applications.
The potential heir apparent to Zhao is CZ’s long-time friend and business partner, Yi He. He is the co-founder of Binance and has been involved in the company since its inception. He is also the CEO of Binance’s Chinese subsidiary, Binance China.
Yi He has a strong background in the cryptocurrency industry and is well-versed in the regulatory landscape. He is also a well-known figure in the Chinese cryptocurrency community and has a strong network of contacts in the industry.
Given his experience and connections, Yi He is well-positioned to take over the reins of Binance and help the company navigate the regulatory landscape. He is also well-positioned to help the company expand into new markets and continue to grow its user base.
It remains to be seen if Zhao will indeed choose Yi He as his heir apparent. However, it is clear that the regulatory issues facing Binance have paved the way for a potential transition of power. Whether or not this transition will take place remains to be seen, but it is clear that Zhao is looking for someone to take over the company and help it navigate the regulatory landscape.