Chang Peng Zhaofounder and former CEO of the world's largest cryptocurrency exchange. binanceshared his reflections and plans after his release from prison after serving a four-month sentence.
What happened: On Sunday, Zhao, popularly known as CZ, expressed his gratitude to his fans who supported him in his “darkest moments.”
“Let me relax a little. Then, determine the next steps. There will always be more opportunities in the future than in the past,” the cryptocurrency mogul expressed optimism for the future.
CZ reiterated his commitment to blockchain technologies and decentralization, calling himself a “long-term investor who cares about impact, not returns.”
He also said that Giggle Academy, a free nonprofit online education platform, would remain his goal for years to come. CZ added that he would dedicate more time to charity and education in general.
See also: From Binance's Zhao to Silk Road's Ulbricht: Meet the cryptocurrency tycoons who racked up 272 years in prison
The cryptocurrency mogul also revealed the status of his upcoming book. “I think about 2/3 are finished. Writing a book is a lot more work than I expected, but I will do it.”
Last but not least, he acknowledged that Binance was doing well without him, calling it “every founder's dream.”
Why is it important: CZ's comments followed his release from a four-month prison sentence for anti-money laundering violations.
The ruling arose from the Justice Department's investigation into the operations of CZ and Binance. CZ paid a $50 million fine and resigned as CEO of Binance in November 2023, ending the multi-year investigation. The exchange also faced $4.3 billion in fines.
CZ's imprisonment made headlines because he was one of the richest people to ever serve time in a US federal prison. At the time of his sentencing, he was the 34th richest person in the world, with a net worth in excess of $40 billion.
price action: At the time of writing, the native currency of the Binance ecosystem, BNB BNB/USDwas trading at $577.54, a drop of almost 4% in the last 24 hours, according to Benzinga Pro data.
Photo courtesy: Wikimedia Commons
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