According to Fortune, Binance founder Zhao Changpeng will be released from prison today (September 27), two days earlier than the official release date. Usually, if the prisoner's release date coincides with the weekend, they can be released early.
Binance founder CZ to be released early
Zhao Changpeng, widely known as “CZ,” has been held in federal prison since arriving in the United States from Dubai in April, serving a four-month sentence for failing to establish adequate anti-money laundering controls at his cryptocurrency exchange.
Binance founder Changpeng Zhao served about two months in a federal minimum-security prison in the California desert before being transferred to a halfway house in Long Beach. A Binance spokesman said Zhao was allowed to go out under supervision and went to see a movie.
After his release, Zhao Changpeng is expected to take a special car directly to Dubai or Paris by private jet, where he and the children of his former partner and Binance executive He Yi reportedly live. Although Zhao Changpeng's plea agreement with the US government prohibits him from participating in the day-to-day management of Binance, he is a major shareholder and board member of Binance and has great influence within the company.
Charity wishes after release
While recent executive arrests and ongoing regulatory scrutiny pose a potential threat to Binance’s future operations, Zhao has previously expressed a desire to continue focusing on philanthropic endeavors, including the Giggle Academy project, which provides free educational materials to children around the world. Details on the project’s progress remain scarce.
Additionally, the U.S. House Foreign Affairs Committee signed a resolution to release Binance Financial Crimes Compliance Officer Tigran Gambaryan, who was arrested in Nigeria earlier this year.
