Binance Founder Reaffirms Crypto And Blockchain Support After Serving Sentence

Changpeng Zhao (CZ), the founder and former CEO of Binance, the largest cryptocurrency exchange in the world, recently shared his thoughts and future plans after completing a four-month prison sentence. Zhao expressed deep gratitude to his supporters who stood by him during difficult times before saying that there are always more opportunities ahead than there were in the past, conveying a hopeful outlook for the future.

Investing Long Term

CZ reaffirmed his commitment to blockchain technology and decentralization, describing himself as a long term investor focused on impact rather than just returns. He also indicated that Giggle Academy, a nonprofit online education platform, would be a key focus for him in the coming years, as he plans to devote more time to charitable initiatives and education.

In a recent tweet, he provided an update on his upcoming book, stating that he is about two-thirds done before jokingly remarking that writing a book is a lot more work than he initially expected. He also reflected on Binance and its performance, noting with satisfaction that the exchange has been thriving without him.

A Notable Development

The aforementioned remarks by CZ followed his release after serving time for anti-money laundering violations, stemming via a Department of Justice investigation into him and Binance. He paid a $50 million fine and resigned as CEO in November 2023, bringing the lengthy investigation to a close. The exchange faced $4.3 billion in penalties during this period.

His imprisonment made headlines, especially since he was one of the wealthiest individuals to serve time in a U.S. federal prison, ranked as the 34th richest person globally with a net worth over $40 billion at the time. As for the market, BNB, the native token of the Binance ecosystem, was trading at around $575, down nearly 4% in the last 24 hours, according to CoinGecko.