CZ posted a long article on X social platform stating, "I have resigned as CEO of Binance. I made a mistake and I must take responsibility. This is best for our community, Binance, and myself. Binance is no longer a baby, it's time for it to run on its own, and Binance will continue to grow."At the same time, I am pleased to announce that Richard Teng, former regional market global manager of Binance, will be appointed as the new CEO of Binance. Richard has more than 30 years of financial services and regulatory experience, and he will lead the company through the next growth phase. He will ensure that Binance achieves the next stage of security, transparency, compliance, and growth. Prior to joining Binance, Richard served as CEO of Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority, Chief Regulatory Officer of Singapore Exchange (SGX), and CFO of the Monetary Authority of Singapore.As a shareholder and former CEO, I will provide necessary consultation to the team according to the framework established in the settlement agreement with US regulators. As for future plans, I will first take a break. In the past six and a half years, I have not taken a real break for a day. After that, I may make some passive investments and become a minority shareholder of start-ups in the fields of blockchain, Web3, DeFi, artificial intelligence, and biotechnology. I am happy to finally have more time to study DeFi.I cannot imagine becoming the CEO of a start-up again. In the future, I may be willing to privately mentor a few entrepreneurs and at least tell them what not to do.In addition, I am proud to point out that in the settlement reached with US regulators, they did not accuse Binance of misappropriating any user funds or participating in any market manipulation. The funds are still safe."