đ„łBinance founder âCZâ leaves prison on Fridayâalong with his $60 billion fortune đȘ
âšïžOn Friday, Changpeng Zhao will step out onto the streets of Long Beach, California as a free man for the first time in months. Since April, Zhaoâwho everyone knows as "CZ"âhas been in federal custody after agreeing to return to the U.S. from Dubai in order to serve a four-month sentence for failing to implement proper anti-money laundering controls at Binance, the giant crypto exchange he founder.
During this time Zhao spent around two months at a minimum security prison in the California desert before being transferred to halfway house in Long Beach where, according to a prison official, he would have been able to make supervised excursions and even go to movies.
Now, Zhao will have many more options as he returns to society with a personal fortune of approximately $60 billionâthe 25th biggest in the worldâand his legal troubles behind him. Zhao did not immediately respond to a direct message inquiry about his plans, and his lawyer told Fortune that he did not wish to be interviewed on the day of his release. Nonetheless, it's possible to make some informed guesses about his next moves.
In a 2023 interview with Fortune, Zhao reflected on his brilliant but aloof late father, and expressed concern he had inherited some of his neglectful traits.
It is possible Zhao will decide post-prison to make up for lost time by spending more time with his family, including his sister, his son and his motherâall of whom testified to his character and stood by his side at his sentencing this spring.Finally, it's worth noting that Zhao is only 47 years oldâan age that is the prime of many executives' careers, and one where many are just taking their first role as CEO.
All of this suggests that Zhao is very much ready for a second act, and that his influence will be felt in crypto and business for years to come.
