After serving a four-month prison sentence in the U.S., Changpeng Zhao (CZ), co-founder and former CEO of Binance, has confirmed he will not be returning to the cryptocurrency exchange he founded. Speaking at Binance Blockchain Week, Zhao reflected on his experience and outlined his future ambitions, revealing an unexpected direction.

Settlement with the DOJ

Zhao reached a settlement with the U.S. Department of Justice (DOJ) after Binance was accused of inadequate anti-money laundering (AML) controls. As part of the agreement, he acknowledged compliance deficiencies, paid a substantial fine, and accepted a ban on holding executive roles at Binance. This settlement resulted in a four-month prison sentence, from which he was released in September.

New Focus on Blockchain, AI, and Biotech

Despite his deep connection to Binance, Zhao has no intention of resuming his role as CEO. Instead, he is focusing on emerging fields such as blockchain, artificial intelligence, and biotechnology. Additionally, Zhao is launching Giggle Academy, an educational platform aimed at advancing knowledge in these areas.

Reflecting on Prison Experience

Zhao described his time in prison as restrictive but expressed empathy for those he met, remarking, “There are very good people in prison. I don’t think there was any reason for a significant number of people to be there.” He noted that he remains in contact with some individuals he met, advocating for their early release and legalization reforms.

Positive Relationship with Binance

Though stepping away from executive duties, Zhao maintains a positive relationship with Binance and stands ready to provide company information if needed. Reflecting on his current role, he added, “The relationship is actually pretty good, with many dedicated people working hard, allowing me to pursue retirement.”

With a renewed focus on education and innovation, CZ is set on a new path, exploring frontiers beyond Binance and shaping the future of blockchain, AI, and biotech.

#Therapydogcoin #TetherAEDLaunch #USElections2024Countdown