• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Changpeng Zhao Completes Sentence, Launches Educational Platform

user avatar

by Giorgi Kostiuk

9 months ago


Changpeng Zhao, the co-founder and former CEO of Binance, has completed his four-month prison sentence on September 27 and is now focusing on educational and philanthropic projects.

Prison Sentence and Consequences

Changpeng Zhao, commonly known as CZ, was sentenced after pleading guilty to failing to maintain an effective anti-money laundering (AML) program at Binance. This lapse allowed cybercriminals and terrorist groups to misuse the platform. As part of his plea deal, Zhao paid a $50 million fine and agreed to step down from his role at Binance.

Leadership Changes at Binance

Following Zhao’s resignation, Richard Teng was appointed CEO of Binance. The company continues to play a central role in the cryptocurrency industry, despite challenges in rebuilding its reputation after paying $4.3 billion to settle accusations of violating anti-money laundering and sanctions regulations. Binance is also in the process of appointing its first board of directors and establishing a permanent global headquarters.

Zhao's Educational and Philanthropic Projects

Zhao made it clear that he would not be returning to Binance, stating, "Binance is no longer a baby. It is time for me to let it walk and run." Instead, Zhao is focusing on education and philanthropy, having recently launched Giggle Academy, a nonprofit online education platform aimed at providing free educational resources to children under 13 in developing countries. The academy will cover subjects like math, science, entrepreneurship, blockchain, and artificial intelligence, equipping young students with the skills they need for the future. Zhao has expressed a desire to use his experience in building global software platforms to make a positive impact, stating that education is "the most impactful thing" he could focus on in this next chapter of his life.

Although he has no plans to lead another company, Zhao is open to mentoring aspiring entrepreneurs and investing in projects related to decentralized finance (DeFi), blockchain, and artificial intelligence. Venture capitalist Tim Draper, a supporter of Zhao, expressed optimism that Zhao would continue to make significant contributions to the cryptocurrency and technology sectors, even as he moves on from Binance.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

Other news

Neo Pepe and TOKEN6900: New Horizons for Investors

chest

July 2025 marks active crypto presales, including Neo Pepe aiming for a $50 million fundraising goal.

user avatarGiorgi Kostiuk

YZi Labs HOOK Token Transfer: Market Impact and Liquidity

chest

YZi Labs has transferred 5,017,000 HOOK tokens to Binance, which may affect liquidity and cause short-term volatility.

user avatarGiorgi Kostiuk

Market Changes: XRP, Ethereum, and Dogecoin Show Gains

chest

XRP, Ethereum, and Dogecoin witness substantial price shifts driven by regulatory and market factors in October 2023.

user avatarGiorgi Kostiuk

Sustainable Mining: Tether and Adecoagro Join Forces in Brazil

chest

Tether and Adecoagro have formed a partnership for Bitcoin mining using clean energy in Brazil.

user avatarGiorgi Kostiuk

Ledger and San Antonio Spurs Partnership: Focus on Crypto Education

chest

Ledger announced a partnership with the San Antonio Spurs to promote crypto education among fans in the U.S.

user avatarGiorgi Kostiuk

Crypto Entrepreneur Tim Heath Escapes Abduction After Violent Confrontation

chest

Tim Heath, an Australian crypto entrepreneur, escaped an abduction attempt in Estonia after successfully fighting off his attacker.

user avatarGiorgi Kostiuk
dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.