Binance founder CZ has been released from a California correctional facility after serving a four-month sentence for inadequate anti-money laundering measures. Following his release, he posted his first tweet, which quickly gained traction.
First Post-Prison Tweet
Upon his release, Binance founder CZ's first tweet in four months was a simple 'gm' greeting the crypto community. The tweet garnered over one million views in just an hour. CZ was released after pleading guilty in November to charges brought by the Department of Justice. Scott Taylor, a reporter at the Bureau of Prisons, stated that CZ had been released from a halfway house in Long Beach, California.
Legal Proceedings and Guilty Plea
CZ pled guilty and paid a personal fine of $50 million. Additionally, Binance was required to pay a staggering $4.3 billion to settle the case involving numerous anti-money laundering and sanction law violations. As part of the settlement, Zhao stepped down as CEO of Binance and is barred from holding any positions in the company in the future.
Future Plans
Prior to his sentencing, Zhao announced his next venture: an educational platform called Giggle Academy, which is currently hiring. He is now free to focus on this project, which reportedly does not aim to generate revenue.
CZ's release has sparked significant discussion within the crypto community, and his future activities will be closely monitored. In the meantime, Binance continues to operate while dealing with the aftermath of the legal proceedings.
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