Binance.US and its founder, majority shareholder, and chairman, Changpeng Zhao, are looking into strategies for decreasing Zhao’s ownership in the crypto exchange, The Information reported.
According to The Information’s reporting, executives at Binance.US have deliberated on how this potential reduction in Zhao’s stake might enhance the company’s reputation amongst U.S. regulatory authorities.
Zhao is a Canadian citizen, but his exact residence is unknown.
A Binance.US spokesperson declined to comment when contacted by CoinDesk.
Edited by Nick Baker.
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