The founder and former CEO of Binance, Changpeng Zhao, is revealing his plans for the future following his release from prison after serving a four-month sentence. Zhao says that for the next few years, the Giggle Academy – his education startup focused on reducing the global illiteracy rate – will be a “big part” of […]
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Former Binance CEO Changpeng Zhao (CZ) has shared a personal update, reflecting on his recent experiences and future aspirations. He emphasized his intention to focus on various projects related to education, blockchain, artificial intelligence (AI), and biotechnology. Zhao expressed confidence that future opportunities will exceed those of the past. CZ Shares Vision Following Prison Release […]
The chief executive of market insights firm CryptoQuant says that the US is regaining its dominance of Bitcoin (BTC) holdings. In a new post on the social media platform X, Ki Young Ju says that the US recouping its BTC dominance is being driven by demand for spot market exchange-traded funds (ETFs). “The U.S. is […]
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Changpeng “CZ” Zhao, former CEO of Binance, took to social media to make his first statements after being released from a correctional facility where he was confined for compliance crimes. Thanking his supporters, Zhao explained that he would take some time to assess his next moves but highlighted that he would continue in the investment […]
Cryptoquant’s chief executive has expressed optimism about the return of former Binance CEO Changpeng Zhao (CZ), believing it could lead to major market movements. “Bullish vibes everywhere,” he said, emphasizing that CZ “just needs to post ‘I’m back’ and the market will skyrocket.” Cryptoquant Founder Expects CZ’s Return to Spark Market Surge Ki Young Ju, […]
Binance founder and former CEO Changpeng Zhao (CZ) has been released from U.S. custody after serving a four-month sentence for his role in compliance failures at Binance. His sentence followed a plea deal that included a $50 million fine and stepping down as Binance’s CEO. Despite his prison sentence, Zhao remains incredibly wealthy, with plans […]
According to a previous Forbes report, Zhao and Binance collectively hold 71% of the roughly 146 million BNB tokens in circulation.
Binance founder Changpeng Zhao was released early from custody on Sept. 27, and the price of Bitcoin (BTC) and Binance’s BNB (BNB) token dipped slightly since the start of the trading day.
According to a previous Forbes report, Zhao holds 64% of the total BNB supply, placing the entrepreneur’s net worth around $61 billion in June 2024 and making him the 24th richest person in the world at the time. Zhao’s vast holdings of Binance’s native currency sparked concern about the centralization of the token once the report was published.
Today, the 94 million BNB tokens held by Zhao represent roughly $57 billion in value at the time of writing — a significant reduction when measured against prices in June 2024, which topped $700.
After four months in jail and social media discretion, CZ is free. What’s next for the former crypto titan who led Binance to the top?
Changpeng Zhao, co-founder and former CEO of Binance — commonly known as CZ — fulfilled on Sept. 27 his four-month sentence for failing to maintain an effective Anti-Money Laundering (AML) program at the Binance cryptocurrency exchange.
Zhao’s options may seem limitless as he’s amassed a personal fortune of $60 billion, placing him as the 25th-wealthiest person in the world.
One thing is for certain: Zhao will not be returning to Binance. According to Binance’s plea agreement filed on Nov. 21, the crypto firm agreed that Zhao was prohibited from “any present or future involvement in operating or managing” the exchange.
The founding CEO of Binance is rapidly approaching his prison release date. According to the U.S. Federal Bureau of Prisons website, inmate #88087-510, Changpeng Zhao, is set to be released on Sunday, September 29th. Zhao is currently serving his sentence at Residential Reentry Management (RRM) Long Beach, a Southern California prison with over 14,000 inmates. […]
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A plea deal filed in November 2023 asked prosecutors to consider that Changpeng Zhao was prohibited from “any present or future involvement in operating or managing” Binance.
Changpeng “CZ” Zhao, expected to be released by United States prison authorities in a few weeks, could be permanently enjoined from operating or managing the crypto exchange Binance as part of his plea deal with prosecutors.
According to a Sept. 5 Axios report, Binance CEO Richard Teng said CZ received a lifetime ban from managing or operating the exchange, not just three years, as many news outlets previously reported. The crypto exchange reportedly said the former CEO was barred from a management position at the firm, though it did not appear to be explicitly required by either Zhao’s or Binance’s plea agreements.
In November 2023, US authorities announced a $4.3 billion settlement with Binance, in which Zhao pleaded guilty to one felony charge related to violations of the Bank Secrecy Act. In April, a judge sentenced the former CEO to four months in prison. He is expected to be released on Sept. 29.
