Binance founder and former CEO Changpeng Zhao was released from U.S. custody on September 28 after being sentenced to four months in California’s low-security prison Lompoc II. Crypto tycoon was banned from using his lifelong Binance leader, and he decided to remain part of the blockchain ecosystem. Zhao was sentenced to four months in prison on April 30 for failing to deploy sufficient anti-money laundering measures on the exchange and prioritizing growth in graduation Bia’s business over complying with U.S. law.
Zhao has been an active crypto voice on social media, marking his multiple tweets back from prison. In his first public statements released on X after his release, the multi-billionaire hinted that he is seeking to fund projects related to blockchain, decentralized technologies, artificial intelligence (AI) and Biotech. As of September 30, the 47-year-old businessman ranked 61st on the Bloomberg Billionaire Index with a net worth of US$30.8 billion (approximately Rs 25.8 billion).
“I am a long-term investor and care about influence rather than returns. Zhao said there will always be more opportunities in the future than in the past.”
Zhao resigned as CEO of Binance after he pleaded guilty in November 2023. Richard Teng was appointed Zhao’s successor to lead the exchange.
Commenting on this situation, Zhao said: “If it weren’t for my back seat, Erqian seemed to perform well, which is great. Every founder’s dream!”
Back in March 2024, Zhao said he was launching a new project called Giggle Academy, a free educational program designed to provide basic education for grades 1-12 through participation, interactive games. Zhao said at the time that no crypto tokens (existing or new) were part of the project. According to the new update, the plan is “going smoothly.”
General Motors, the food tastes so good…and being able to have more than one fruit every day is a luxury!
I know some of you may have a lot of problems. I won’t have all the answers.
Let me relax. Then find out the next step. https://t.co/9hvgp8bo97 There are always more opportunities
– cz:ground_orange_diamond:bnb (@cz_binance) September 29, 2024
Although Zhao was again banned from being part of Binance’s management team, he remains the largest shareholder of the crypto exchange, with his stake said to be about 90%. This provided him with a vote to appoint board members and approve company policies.
