"PANews" reported on September 27 that according to Fortune Magazine, on Friday, Changpeng Zhao will step onto the streets of Long Beach, California for the first time as a free man. This is the first time he has regained his freedom in months. This is two days ahead of his official release date, as inmates leave custody early if their release date falls on a weekend. Changpeng Zhao has been in federal custody since April after agreeing to return to the United States from Dubai to serve out a five-month sentence for failing to implement adequate anti-money laundering controls at Binance, which he founded. During that time, Zhao spent about two months in a minimum-security prison in the California desert before being transferred to a halfway house in Long Beach, where he could undergo supervised rehabilitation, according to prison officials. Go out and do some activities, maybe even go to the cinema. Now that Zhao has returned to society with a personal fortune of about $60 billion — the 25th-largest in the world — and with his legal troubles resolved, he will have more options. Zhao Changpeng's lawyer said that Zhao Changpeng did not want to be interviewed on the day of his release. However, the outlet has some speculation about its next move.
Changpeng Zhao's first stop is likely to be Dubai or Paris, where his children live with their mother He Yi. In addition, the media predicts that as Zhao Changpeng is released from prison, more detailed information about the Giggle Academy project launched before his imprisonment may emerge in the next few months. In addition to family and charity, Zhao Changpeng, who is now free, may pay attention to He turned to his third pursuit: the cryptocurrency industry that made him extremely wealthy and dominant over the past decade. However, Changpeng Zhao faces a major conundrum in the cryptocurrency industry: Under his criminal settlement agreement, he must resign as CEO of Binance and stay away from any "day-to-day" activities at the company. At the same time, the settlement agreement also requires Binance to accept two external monitors appointed by the U.S. government to ensure compliance. Despite these obvious limitations, even though Changpeng Zhao is no longer CEO, he remains the company's largest shareholder, which should give him considerable influence over the company's future direction.
In response to a request for comment on Changpeng Zhao’s release, a spokesperson for Binance said: “We are pleased that Changpeng Zhao can be reunited with his family. Although he no longer manages or operates Binance, we are looking forward to his next actions. Since last year, Binance has continued to thrive under the leadership of our current team, reaching more than 229 million users worldwide.” Finally, it is worth noting that Changpeng Zhao is only 47 years old – a prime period in many senior executives’ careers. , which is also the age when many people become CEOs for the first time. All of this suggests that Changpeng Zhao is well-prepared for his second act and that his influence will continue to be felt in the cryptocurrency and business industries for years to come.
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This article is reprinted with permission from: "PANews"
