Changpeng Zhao Sentenced to Life: Binance Founder Permanently Barred from Management

Changpeng Zhao has been barred from Binance management for life, but he still remains the majority shareholder: he owns about 90% of the crypto exchange's shares.

On the one hand, he has been removed from managing the company he created. On the other hand, it's like being kicked out of your own home, but still being allowed to own it.

Considering that he owns about 90% of the shares, the situation looks rather strange. Usually, whoever owns such a large block of shares has a decisive vote in all important matters. But as long as Zhao remains the largest shareholder, he retains his influence. Even without directly participating in management, he can make important decisions through voting at shareholder meetings.

This creates an interesting picture: formally removed from business, but still having a significant say in the company. It can be assumed that Zhao's real influence on Binance may be much greater than it seems at first glance.

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