what happen?
Binance founder Changpeng Zhao (CZ) is expected to be released on September 29, US time, after completing a four-month prison sentence.
Changpeng Zhao accepted the U.S. court's ruling because the early regulatory rules were not yet clear and he did not implement appropriate anti-money laundering measures on Binance.
After being released from prison, Changpeng Zhao will no longer be involved in the daily operations of Binance, and Binance has been handed over to CEO Deng Weizheng and Binance’s co-founder He Yi.
Zhao Changpeng has completed his sentence and will return to society with a net worth of US$60 billion
According to foreign media "Fortune", Zhao Changpeng is expected to be released on September 29, U.S. time, but if the release date falls on a weekend, the prisoners will be able to leave early on Friday.
Since California in the United States is 15 hours behind Taiwan time, Zhao Changpeng can take to the streets of California as a free man as early as the evening of today (27th) in Taiwan.
Zhao Changpeng's current cumulative net worth is approximately US$60 billion, ranking him the 25th richest person in the world. Although he has just emerged from legal troubles, he remains a high-profile financial figure.
Regarding his plans after his release from prison, Zhao Changpeng has not yet responded to media inquiries, and his lawyer stated that he will not be interviewed on the day he is released from prison.
However, foreign media "Fortune" said that after Zhao Changpeng is released from prison, he is expected to take a private plane to Dubai or Paris to reunite with his children and their mother, Binance co-founder He Yi.
In a past interview with Fortune magazine, Changpeng Zhao talked about his admiration for his father and his inner worries about neglecting his family. Therefore, in the future, he may use time to make up for the regret of not being able to get together with his family in the past.
What will Changpeng Zhao do next?
The support of Zhao Changpeng's family allowed him to receive a relatively light sentence, serving only 5 months in prison. In addition, Zhao Changpeng also promised in court that he would develop charity to help more young generations and provide free and interesting learning tools to disadvantaged children around the world.
Before Zhao Changpeng was imprisoned, he also shared the initial concept of the charity project "Giggle Academy" on the social platform X, and expressed his hope to provide high-quality free education to poor children around the world.
However, after Zhao Changpeng was imprisoned and served his sentence, updates to the official website stopped. There are currently only a few job vacancies that have been announced for several months, but no specific timetable for the plans has been announced. More details may emerge after Zhao Changpeng regains his freedom.
In addition to philanthropy, another key to Zhao Changpeng’s future development may still be the cryptocurrency industry.
Although he had to resign as CEO of Binance due to the settlement agreement and stay away from daily operations, he is still the company's largest shareholder and has the power to exercise decision-making power on major issues of the company, and still has influence on Binance's future development. In addition, the development and influence of his every move on the global cryptocurrency industry cannot be ignored.
As Zhao Changpeng is released from prison, will BNB skyrocket?
The news that Changpeng Zhao is about to be released from prison has made many investors look forward to the price of Binance Coin (BNB) skyrocketing.
As Zhao Changpeng is released from prison and enters the countdown period, Binance Coin has also continued to rise. As of the time of publication, the currency price has officially exceeded the $600 mark and has increased by 6% in the past week.
However, some analysts are worried that the optimism brought about by the good news about Binance Coin cannot break through the selling pressure at the $600 mark, and is likely to reverse, causing the currency price to re-enter the consolidation stage.
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