Binance Ex-CEO CZ Vows Continued Tech Investments After Release from US Custody –

• Binance founder CZ pledged to keep investing in blockchain, DeFi, AI, and biotechnology.
• CZ also announced Giggle Academy, a free educational initiative for students in grades 1 to 12.
• CZ was released from a federal prison in California on September 27.

Former Binance CEO Changpeng Zhao, popularly known as CZ, has made his first public statement since his release from US custody. In a post on social media platform X on Sep 29, Zhao, a prominent figure in the crypto world, pledged to continue investing in sectors like blockchain/DeFi projects, artificial intelligence (AI), and biotechnology. Also, CZ described himself as a long-term investor focused on “impact, not returns.”

The crypto billionaire spent four months in a US federal prison due to charges related to inadequate anti-money laundering acts at Binance. Last November, Binance agreed to a plea agreement. That resulted in a $4.3 billion penalty to settle US charges linked to its alleged failure to prevent criminal activities on the platform. Additionally, Zhao agreed to pay a $50 million personal fine and was sentenced to four months in custody. He was released from a correctional facility in California on September 27.

CZ Announces the Launch of Giggle Academy

In his post, Zhao also announced the launch of an educational initiative called ‘Giggle Academy,’ a free, global program focused on students from grades 1 to 12. This academy combines gamified and adaptive learning with blockchain technology to enhance the educational experience.

Following the petition agreement, Zhao stepped down as Binance’s CEO and appointed Richard Teng as the new CEO. Further, as part of the settlement, Binance now faces ongoing compliance oversight by both the US Department of Justice (DOJ) and the Financial Crimes Enforcement Network (FinCEN). 

Despite these challenges, Binance continues to be the world’s largest cryptocurrency exchange, playing a central role in digital asset trading. According to the Bloomberg Billionaires Index, CZ still holds a substantial fortune, with an estimated net worth exceeding $30 billion.

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