Former Binance CEO Changpeng Zhao has shared his future plans after being released from prison, having served a 4-month sentence.
A Brief Break Before Future Endeavors
Zhao stated that he will 'chill for a bit' before deciding what to do next. He remains optimistic about the future and believes that it holds more opportunities than the past. In his post, he shared that he will focus on Giggle Academy, which so far has been 'going well.' This educational initiative will be one of his main focuses over the next few years.
Binance Prioritized Growth Over US Law
Zhao's prison sentence came after he pleaded guilty to charges related to money laundering at Binance. Multiple investigations by the US Department of Justice revealed that the exchange allowed transactions linked to illegal activities such as terrorism and child exploitation. Prosecutors claimed that Zhao prioritized Binance's growth over compliance with US law after the exchange processed more than 100,000 illicit transactions. As a result, Zhao was sentenced to four months in a low-security prison and fined $50 million. Current Binance CEO Richard Teng stated that Zhao is permanently banned from participating in the management of the exchange.
Future Plans
In addition to working on Giggle Academy, Zhao intends to continue investing in blockchain and other decentralized technologies, as well as in artificial intelligence and biotechnology. He emphasized that his investment decisions will be based on 'long-term' impact rather than short-term returns.
After being released from prison, Changpeng Zhao plans to focus on educational initiatives and investments in promising technologies. He remains optimistic, confident that the future will bring more opportunities.
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