Binance.US, the American counterpart of the popular crypto exchange Binance, is reportedly considering a plan to reduce the majority ownership stake of its founder and CEO, Changpeng Zhao. The move comes after Binance US raised $200 million from investors last year, valuing the company at $4.5 billion.

Sources familiar with the matter suggest that reducing Zhao's stake may signal a shift in the company's ownership structure. But why is Binance.US considering such a move?

The answer lies in the regulatory challenges that both Binance and its founder have been facing recently. The US Commodity Futures Trading Commission (CFTC) filed a lawsuit against Binance and Zhao, alleging that they operated an "illegal" exchange and had a deficient compliance program. The lawsuit accused Binance of "willful evasion" of US law and regulatory arbitrage.

In response, Binance.US executives believe that reducing Zhao's stake could improve the company's standing with US regulators. However, the company has another concern - the potential impact of Zhao's involvement in the CFTC lawsuit on acquiring regulatory licenses required to operate in the United States. By exploring options to cut Zhao's stake, Binance.US hopes to address these concerns and improve its regulatory compliance.