The post Former Binance CEO CZ Charts New Path After Prison Term, Plans Education Venture appeared on BitcoinEthereumNews.com.

TLDR: CZ completed a 4-month prison sentence and says he has no desire to return to Binance He remains Binance’s largest shareholder but is banned from executive roles CZ is launching Giggle Academy, an educational platform targeting 1.2 billion people His net worth is estimated at $19bn, making him China’s 16th richest person Future plans include investments in blockchain, AI, and biotech sectors Former Binance CEO Changpeng Zhao (CZ) has confirmed he will not return to the cryptocurrency exchange he founded, following his recent release from a four-month prison sentence in the United States. Speaking at Binance Blockchain Week, CZ addressed his future plans and reflected on his time in prison. “I don’t have any need to go back. I don’t have any wish to go back,” he stated during the conference in Dubai. The former CEO served his prison term from June to September 2024 after reaching a plea agreement with U.S. authorities. The deal included a $50 million fine and restrictions on his involvement with Binance, though he remains the company’s largest shareholder. CZ noted he was the first person to receive jail time for a single violation of the Banking Secrecy Act. He compared his case to others, including TD Bank’s $1.8 billion fine where no individuals faced charges. During his incarceration, CZ found the experience “very limiting” but formed unexpected connections. “To be honest, I think there are very nice people in prison. People are very chill,” he shared. He maintains contact with some fellow inmates and is helping them with legal support. While cryptocurrency became a hot topic for presidential candidates during his imprisonment, CZ expressed surprise at the timing. “I’m just sitting in prison like ‘What the hell happened?’ What if I waited for two months?” he reflected. Despite his legal challenges, CZ’s financial…

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Filed under: News - @ November 4, 2024 11:23 am