Ex-Binance CEO Changpeng Zhao Shares First Thoughts After Prison

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.

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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.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.