Changpen Zhao, the former head of Binance took to social media just seven hours after being released from prison, posting on the X platform that he valued simple luxuries like food and fruit.
While he was calm and grateful, he hinted that he wouldn’t answer any questions right away, saying, “Let me relax a bit.” Zhao shared his plans to continue investing in blockchain, artificial intelligence, biotechnology, charity and education, specifically through his Giggle Academy.
His jail sentence followed his guilty plea in April to charges related to Binance money laundering.
The U.S. Department of Justice investigation revealed that Binance processed over 100,000 suspicious transactions without proper oversight, enabling illegal activities such as terrorism and child exploitation.
CZ was sentenced to four months in a low-security prison in California and was personally fined $50 million, while Binance was fined $4.3 billion. Although he stepped down as CEO in November 2023, Zhao still holds a 90% stake in Binance despite being banned from playing any active role in its operations.
Mark Zuckerberg, the tech visionary behind Meta, now ranks as the fourth-richest individual globally with a fortune of $201 billion, thanks to the company’s pivot to metaverse technology and artificial intelligence.
Global stock market capitalization is on track to reach its highest level in three years, driven by recent interest rate cuts from the Federal Reserve and economic stimulus measures from China.
A notable departure from the Cardano project has occurred as Vladimir Kalnitsky, a key developer behind the cardano-transaction-lib (CTL), has announced he is stepping away.
On September 30, California Governor Gavin Newsom vetoed the controversial artificial intelligence bill SB 1047.