Former Binance CEO Changpeng Zhao opened up about his prison experience, future plans, and relationship with Binance during the Binance Blockchain Week conference.
During his interview on the Wu Blockchain podcast, Zhao — effectively ousted as Binance CEO following a plea agreement reached with U.S. authorities last November — candidly spoke about his time in prison. He revealed that human connections were what he missed most during his incarceration.
Addressing his sentence for Banking Secrecy Act violations, Zhao noted he was the first person to receive jail time for a single violation of this nature.
He compared this to recent cases, mentioning TD Bank’s $1.8 billion fine where no individuals were charged.
CZ clarifies relationship with Binance
On his current relationship with Binance, CZ clarified his position as a large shareholder while confirming he has stepped down from operational duties.
Contrary to some reports, he stated there was no explicit “lifetime ban” from managing crypto exchanges in his plea agreement. “Those two words don’t exist in my plea agreement with the government,” CZ explained.
Looking ahead, CZ announced his focus on two main ventures: Giggle Academy and investments in blockchain, AI, and biotech.
CZ stated that he maintains his shareholder rights at Binance. He also expressed no desire to return to an operational role. CZ also stated that even if allowed, he probably wouldn’t go back.
Giggle Academy takes center stage in CZ’s future plans
The former CEO revealed ambitious plans for Giggle Academy. Giggle Academy is an educational initiative aimed at providing digital education to approximately 1.2 billion people worldwide who lack access to traditional education.
The platform plans to utilize artificial intelligence (AI), game developers, and teachers to create interactive educational content deliverable through mobile devices.
Zhao emphasized that the project isn’t focused on profitability but rather on social impact. He estimated that it could cost around $1–2 billion to develop the educational content across multiple subjects and languages.
Regarding cryptocurrency markets, Zhao remained optimistic about the industry’s long-term prospects. However, he still acknowledged the short-term unpredictableness.
He noted the historical pattern of four-year cycles in Bitcoin’s (BTC) performance and emphasized the continuing need for infrastructure development in the crypto space.
On regulatory matters, Zhao observed positive developments in crypto legislation across various jurisdictions. He stated that larger countries typically move more slowly in implementing regulatory frameworks.
Source: https://crypto.news/binance-founder-changpeng-zhao-speaks-about-a-possible-return-to-the-exchange/