Binance (CZ) founder reveals his next steps after being released from prison

Changpeng Zhao or CZ, founder of the world's largest cryptocurrency exchange, Binance, revealed some of his plans for this new stage of his life. Last week, the entrepreneur served a short prison sentence in the United States, which was extended by about 4 months.

It is worth noting that his stay in custody in the North American country is related to his financial mismanagement of Binance. Although the exchange became the largest reference for cryptocurrency trading on the planet under his leadership, CZ neglected other aspects. In particular, his platform lent itself to money laundering and other crimes linked to trading.

At the end of 2023, when the pressure was unbearable, the businessman reached an agreement with the authorities. At this point he admitted guilt for the crimes he was accused of, and agreed to pay a multimillion-dollar fine. Thanks to this agreement, his prison sentence was shortened and he is now ready to return to the business world.

In a recent post on social media platform X, the entrepreneur made a deep reflection on his future plans. Thus, his next steps will be divided between charity and investment in technological sectors. Binance founder CZ said that the main goal of his investments is impact and not profit.

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CZ welcomes Binance's smooth operation

In the aforementioned social media post, the entrepreneur highlighted that one of his main focuses of interest is Giggle Academy. It is a platform focused on free education for children from different parts of the world, especially from developing countries. “It will occupy a large part of my life for the next few years,” he said.

He also stressed that his capital investments will continue towards sectors such as blockchain and decentralized technologies. Added to this are emerging technologies such as artificial intelligence and biotechnology. He added that he considers himself a long-term investor who cares more about impact than returns.

He then stressed that he will devote more time and resources to charity, particularly education. As a result, some rough ideas are already under his consideration. The Binance Founder added that his book is in the process of being finalized and so far he has completed two-thirds of it in a job that CZ himself describes as difficult.

Finally, Zhao took the opportunity to talk about Binance. In his post, he expressed excitement that the exchange is now running smoothly without requiring his presence. On this aspect, he stressed that this is the dream of every founder. Recently, the current CEO of Binance, Richard Teng, expressed that institutional investors are flocking to the platform.

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