Binance Founder CZ Speaks Out for the First Time After Being Sentenced to Prison

Changpeng Zhao (CZ), founder of cryptocurrency exchange giant Binance, has been sentenced to four months in prison in his trial for crimes such as money laundering. US Government officials want CZ to receive a 3-year prison sentence.

A few minutes ago after this incident, the former Binance CEO shared a post on his official X/Twitter account and emphasized that users' funds are still safe. Here are the words from CZ's last post:

“I want to thank everyone for their interest and support, whether it was by writing a letter, showing support at X or in any other way.

They all mean a lot to me and keep me strong. I will take my time, complete this phase and focus on the next part of my life (education).

I will remain a passive investor (and owner) in cryptocurrency. Our industry has entered a new phase. Compliance is very important.

The positive side of this whole process is that Binance is getting noticed. Money is SAFU, protect users.”

According to CZ's statement, Binance and the cryptocurrency industry appear to have put these recent bad developments behind them.