stepping out in Long Beach, California. Zhao has been in federal custody since April after returning to the U.S. from Dubai to serve a four-month sentence for failing to enforce proper anti-money laundering controls at Binance, the massive cryptocurrency exchange he founded. After spending about two months in a minimum-security prison in the California desert, Zhao was transferred to a halfway house in Long Beach, where he had limited freedoms, such as supervised outings and going to movies.

Now, Zhao is reentering society with an estimated personal fortune of $60 billion, placing him among the world's wealthiest individuals. Although Zhao and his lawyer have declined interviews about his release, there are some educated guesses about his next steps. He will likely be picked up in a chauffeured car and taken to a private jet, with his first stop possibly being Dubai or Paris, where his children live with their mother, He Ye, a top executive at Binance and Zhao's former romantic partner.

In a 2023 interview with Fortune, Zhao spoke about his relationship with his late father, acknowledging the fear that he had inherited some of his father’s distant traits. After his time in prison, Zhao may focus on spending more time with his family, including his son, sister, and mother—all of whom stood by him during his sentencing earlier this year. Their support played a role in the judge's decision to give him a relatively lenient five-month sentence, along with Zhao’s dedication to philanthropy.

Whether Zhao will turn his philanthropic promises into reality remains to be seen. Before his incarceration, he launched the Giggle Academy, aimed at offering free, engaging educational tools for children worldwide. However, so far, the project appears to be only in its early stages, with little detailed information available. Given Zhao's recent situation, more updates about Giggle Academy may come in the future.

Aside from family and philanthropy, Zhao may also shift his attention back to the cryptocurrency industry, where he built his fortune and reigned for much of the past decade. However, his criminal settlement requires him to stay away from Binance’s daily operations and resign from his role as CEO. Binance must also adhere to monitoring from U.S.-imposed external auditors to ensure compliance.

Still, Binance is no longer operating in the U.S. and is focused on Asia and offshore markets. Zhao remains the company's largest shareholder, maintaining significant influence over its direction. While a Binance spokesperson stated that CZ is no longer involved in the company’s management, they expressed excitement to see what he will pursue next. Under its current leadership, Binance has continued to grow, reaching 229 million users globally.

At 47, Zhao is still in his prime—an age when many executives are just reaching their first CEO positions. His second act could see him continuing to leave a lasting impact on the world of cryptocurrency and beyond.