Free Man CZ Checks In on X After His Release
Changpeng Zhao (CZ), former Binance CEO, broke his silence just seven hours after his release from prison with a post on X (formerly known as Twitter).
Former #Binance CEO CZ Tweets After Early Release from U.S. Prison https://t.co/WS8Cy608d4 #Blockchain #GiggleAcademy #Biotech #AI #cryptocurrency #ChangpengZhao #ExBinanceCEO
— Cryptonewsland (@cryptonewsland) September 30, 2024
Reflecting on his experience, CZ expressed gratitude for the support he received and shared that he's feeling relaxed and ready to move forward, though he hinted at taking time before addressing all questions.
In his update, CZ outlined plans to continue investing in blockchain, decentralised technologies, artificial intelligence (AI), and biotech, emphasizing that he’s a long-term investor focused on impact rather than returns.
He also highlighted future priorities, including charity work, education through his Giggle Academy, and completing his book, which is two-thirds finished.
Though no longer at the helm of Binance, CZ expressed satisfaction with the exchange's ongoing success in his absence.
gm, the food taste so good... And what a luxury to be able to have more than one piece of fruit per day!
I know some of you may have a lot of questions. I won't have all the answers.
Let me chill for a bit. Then figure out the next steps. There are always more opportunities in… https://t.co/9hvgp8Bo97
— CZ 🔶 BNB (@cz_binance) September 29, 2024
Uptick in BNB Price After CZ's Tweet Post-Release Was Short-Lived
CZ, a prominent figure in the crypto world, stepped down as CEO amidst ongoing legal battles involving the exchange.
However, his challenges did not end with resignation.
CZ was fined $50 million and served a four-month prison sentence, which concluded on 27 September, two days ahead of schedule.
His release had an immediate impact on Binance Coin (BNB), despite the coin remaining relatively stable during Binance's legal issues.
Following his first tweet post-release, simply saying "GM" (Good Morning) to his followers, BNB's price surged from $606.25 to $616.53, marking its highest point in a month.
gm
— CZ 🔶 BNB (@cz_binance) September 28, 2024
BNB experienced a steady bullish trend after dropping to $464.63 in August, accelerating throughout September.
Its value climbed from $540 to $616, marking an 11% gain for the month, largely fuelled by anticipation surrounding the release of CZ.
Even in the past week, BNB saw a 4.27% rise.
However, this momentum was short-lived, as the price has since fallen to $576.98—a 4.06% drop in the last 24 hours and a 2.92% decrease over the week, according to CoinMarketCap.
$BNB
It's over.
Breaking to the down side.
4H trend broken.
520-525 coming 🩸#CrytoGemsMeme #Binance pic.twitter.com/qkBwSe6j2V
— Trading Zone By Crypto Jack (@cryptojack4u) September 29, 2024
The broader crypto market is also struggling: Bitcoin is down 2.08% at $64,527.62, Ethereum has dropped 2.38% to $2,615.76, and Solana has fallen 0.58% to $157.25 over the same period.
