Changpeng Zhao, the founder and former CEO of the world’s biggest cryptocurrency exchange Binance, has returned to the public eye after serving a four-month prison sentence for anti-money laundering violations.
Zhao, affectionately known as CZ, took to Twitter to express his gratitude to those who stood by him during his time in prison. He shared, “Let me chill for a bit. Then figure out the next steps. There are always more opportunities in the future than there were in the past.” This optimistic outlook reflects CZ’s commitment to blockchain technologies and decentralization. He emphasized that he is a “long-term investor who cares about impact, not returns.”
CZ’s immediate focus will be on Giggle Academy, a non-profit online education platform. He intends to devote more time to charity and education in general.
He also provided an update on his upcoming book, stating that it’s “about 2/3 done.” Writing a book, he admitted, is a lot more work than he anticipated, but he is determined to see it through.
Lastly, CZ acknowledged that Binance has been thriving in his absence, calling it “every founder’s dream!”
The sentencing stemmed from a multi-year investigation by the Department of Justice into Binance’s operations. CZ paid a $50 million fine and resigned as CEO in November 2023, bringing the probe to an end. Binance also faced $4.3 billion in penalties.
CZ’s imprisonment garnered headlines as he was one of the wealthiest individuals to ever serve time in a U.S. federal prison. At the time of his sentencing, he was the 34th richest person in the world, with a net worth exceeding $40 billion.
Following his release, Binance’s native cryptocurrency BNB experienced a slight dip, trading at $577.54, down nearly 4% in the last 24 hours.
