Former Binance CEO Changpeng Zhao Shares Future Plans In First Tweet After Prison Release

Updated: 30 September 2024

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Former Binance CEO Changpeng Zhao has shared his future plans in his first lengthy tweet since his release from prison after serving a 4-month sentence.

“Gm, the food taste so good…,” Zhao said in the Sept. 29 post. ”And what a luxury to be able to have more than one piece of fruit per day!”

Changpeng Zhao Taking A Brief Break Before Future Endeavors

The billionaire said that he will “chill for a bit” before figuring out what he will do next. He remains optimistic about what the future holds, and believes that the future always offers more opportunities than the past.

In the post, he shared that he will be focusing on Giggle Academy, which so far has “been going well.” This educational initiative will be one of his main focuses going forward, with Zhao saying that it will be a “big part” of his life for the next few years. The former Binance CEO will also be dedicating more “time and funding” to charity.

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

In addition to Giggle Academy, Zhao intends to continue investing in blockchain and other decentralized technologies, as well as AI and biotech. He said that his investment decisions will be based on “long-term” impact rather than short-term returns.

After stepping down from his position at Binance, he also said that he is happy that the leading crypto exchange “seems to be doing well” without him “back-seat-driving.”

Binance Prioritized Growth Over US Law

Zhao’s prison sentence came after he pleaded guilty to charges linked to money laundering at Binance. A multi-year-long investigation by the US Department of Justice found that the exchange had allowed transactions linked to illegal activities such as terrorism and child exploitation to take place on its platform.

Prosecutors claimed that Zhao prioritized Binance’s growth over US law, after the court found that the exchange processed more than 100,000 illicit transactions.

After admitting to letting these transactions take place on Binance, Zhao was sentenced to four months in a low-security prison. In addition to the jail time, Zhao also had to pay a $50 million personal fine.

Binance CEO Richard Teng has said Zhao is permanently banned from participating in the management of the world’s biggest crypto exchange, and not for three years, as was widely reported at the time of his sentence.