Changpeng Zhao Says BNB Doesn't Need A CEO

The fate of the BNB coin is still being questioned after Changpeng Zhao's departure. (Photo; Doc. InvestingCube)

JAKARTA After resigning from Binance CEO on November 22, Changpeng Zhao (CZ) this time made his latest comments about Binance's crypto asset, BNB. According to CZ, BNB does not need a CEO to develop.

This comment was made by CZ shortly after his resignation from the position of CEO of Binance on charges from the US Department of Justice (DOJ). After Binance experienced a leadership shift, the BNB coin experienced uncertainty. BNB fell more than 11% after DOJ's lawsuit against Binance.

Despite the turmoil that occurred in Binance, Changpeng Zhao's confidence in BNB seems to be still strong. This is reflected in crypto aggregator platforms such as CoinMarketCap and Coingecko. The BNB coin is still in 4th position based on its market cap.

The fate of BNB

In recent times, the centralization felt in the Binance Coin (BNB) ecosystem has become increasingly in the spotlight, especially after the departure of Binance CEO Changpeng Zhao (CZ). His statement which states that BNB can operate without the presence of a CEO once again has raised questions about the level of dependence on one individual on this cryptocurrency platform.

Critics assert that the significant influence of one individual, as seen in the Binance case, opposes the basic principle of decentralization on which blockchain technology supports digital assets. Decentralization is one of the core values of the crypto asset movement, and the presence of one leader who has great influence is considered a step back from the philosophy.

Decentralization is considered a key element that provides security, incentrality, and justice in the cryptocurrency ecosystem. With CZ leaving its position, the crypto community is now facing serious questions about the future of BNB.