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.
WisdomTree is taking a bold step in the asset tokenization space by expanding its institutional investment platform, WisdomTree Connect.
U.S. stocks faced a dramatic downturn on Thursday, marking the most severe one-day drop since 2020.
Fidelity is making a bold move into the crypto space by offering new retirement accounts that let Americans invest in digital assets with minimal fees.
Robinhood CEO Vlad Tenev believes that the tokenization of traditional assets could play a key role in strengthening the position of the US equities market globally.