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Former Binance CEO Changpeng Zhao (CZ) has completed his US prison sentence and is ready to increase his investments in the blockchain sector.
This passive comeback could also see CZ fund artificial intelligence and biotech initiatives.
CZ Asserts to Prioritize Impact Over Financial Returns
In an X post on September 29, CZ emphasized his philosophy of prioritizing positive change over financial gains. After stepping down as Binance’s CEO and serving a four-month prison sentence, Zhao is now directing his energy toward education and charity initiatives.
gm, the food taste so good… And what a luxury to be able to have more than one piece of fruit per day!
I know some of you may have a lot of questions. I won't have all the answers.
Let me chill for a bit. Then figure out the next steps. There are always more opportunities in… https://t.co/9hvgp8Bo97
— CZ 🔶 BNB (@cz_binance) September 29, 2024
A key focus for him moving forward is Giggle Academy, an educational project that aims to offer free basic education to children globally. Giggle Academy will operate a non-profit model, relying on innovative technologies like blockchain to issue “soul-bound tokens” as certifications for students’ achievements.
This initiative will provide schooling from grades 1 to 12 and incorporate adaptive learning techniques and gamification to enhance the educational experience. Zhao believes that access to education is essential to create lasting change in the world.
My next project. @GiggleAcademy (No logo yet)
Free basic (grade 1-12 ish) education, for all.
No revenue.
Gamified.
Adaptive.Read the Concept Paper at https://t.co/knqmZF0sQ8
We are HIRING. Small team, work directly with CZ.
— CZ 🔶 BNB (@cz_binance) March 19, 2024
Beyond Giggle Academy, Zhao shared his plans to dedicate more of his time and financial resources to charitable causes. Though he hasn’t shared specific details yet, Zhao hinted at new projects in development.
He’s also working on a book, with two-thirds already written, which will likely detail his experiences and insights running the Binance ecosystem.
These announcements come in the wake of a turbulent period for Zhao, who was fined $50 million personally and sentenced to four months in custody for violating US money laundering regulations.
CZ has agreed to pay a $50 million fine for his role in Binance.
The government is also seeking an 18-month prison sentence for CZ, per NYT, the maximum suggested under federal guidelines, according to senior Justice Department officials.
— unusual_whales (@unusual_whales) November 21, 2023
Binance also agreed with US regulators that Zhao would no longer be involved in managing or operating the company. While not a legal requirement, this was presented as a “remedial measure” taken by Binance to ease concerns from US prosecutors, aiming to show their willingness to cooperate with regulators.
Despite these challenges, Zhao’s estimated net worth remains around $30.8 billion, largely tied to his holdings in Binance. Following his release from a correctional facility in California, he is focused on making a positive impact, even signaling a return to more public appearances in the crypto space.
Crypto enthusiasts and commenters believe Zhao’s forward-looking statements show a man who is determined to reshape his legacy, focusing on global betterment while maintaining a role in the crypto world.
