CZ was released two days early due to the official release date falling on a weekend.
His release could influence the cryptocurrency market, especially Binance Coin (BNB).
CZ remains the majority shareholder of Binance, despite stepping back from its daily operations.
Binance founder Changpeng Zhao, commonly known as CZ, was released two days earlier than expected from a halfway house in Long Beach, California. His early release was triggered by the fact that his scheduled release date coincided with the weekend.
CZ, who had been serving a four-month sentence following a plea deal, had spent two months in a minimum-security prison in California before being transferred to the halfway house.
https://twitter.com/WuBlockchain/status/1839470717068603806
Zhao has not made any public statements since his release but has expressed through his legal team that he wishes to reunite with his family. This includes spending time with his children and his ex-girlfriend, He Ye, who is also a senior executive at Binance. CZ's family played a significant role in his legal defense, with character references contributing to the terms of his sentence.
Even though Zhao cannot participate in Binance's daily operations, he still owns most of the company. He greatly impacts its overall strategy, especially as Binance deals with regulatory issues. Right now, Binance is trying to grow in Asian and offshore markets, but it is still under the watch of U.S. authorities.
Meanwhile, the market has reacted positively to CZ's impending return, with Binance Coin (BNB) experiencing a price increase in recent days. BNB prices have risen by 2%, with the possibility of further appreciation.
Analysts predict that the price could break through the $600 resistance line and potentially reach $722. The recent introduction of Binance’s Pre-Market service is also expected to drive trading activity, contributing to BNB’s upward trajectory.
CZ’s release comes as Binance faces continued scrutiny, including the arrest of its financial crimes compliance officer, Tigran Gambaryan, in Nigeria. The U.S. House Foreign Affairs Committee has since called for Gambaryan's release.
