Changpeng Zhao will not be able to participate in the management of Binance even after release

It has been confirmed that Changpeng Zhao, former CEO of Binance, has been permanently banned from operating or managing the exchange.
Binance CEO Richard Teng
"As part of a settlement with U.S. prosecutors," Teng said in an interview with Axios.
"As such, it is correct that Zhao received a lifetime ban from operating or managing an exchange, rather than the three years previously reported."
In November 2023, Binance's $4.3 billion settlement with U.S. authorities revealed that Zhao had violated the Bank Security Act.
Zhao pleaded guilty to one felony charge related to the allegations. In April, a judge sentenced him to four months in prison. He is scheduled to be released on September 29.
As part of the settlement, Zhao stepped down as CEO of Binance and was succeeded by Richard Teng. Zhao said at the time:
He said he was available to provide advice to the team when needed, and that he would "step back as CEO to allow Binance to grow independently."
According to Binance's settlement document filed on November 21, 2023, Binance will not indemnify Zhao for any current or future damages in connection with the operation or management of the exchange.
However, this was considered by prosecutors as part of the remedial measures Binance had taken and was not a legal requirement.