Summary
Binance co-founder Changpeng Zhao, one of the biggest name in crypto, has just spoke out for the first time since he was in custody. After serving 4 months in California and paying $50 million on a personal fine, CZ is still all in on AI, blockchain and biotech. In fact, he's doubling down on his investments and lays out a fresh vision for the future of the space, making it very clear that he's not backing down from pushing crypto world to the mainstream.Changpeng Zhao was in custody regarding legal issues surrounding Binance, the crypto exchange he co-founded. U.S. authorities claimed that Binance didn’t follow strict regulations, which allowed criminals and terrorist organizations to misuse the platform for illegal activities. As a settlement, CZ had to pay a huge amount and even serve 4 months in California as part of the plea agreement.
Following his release CZ posts on X (Twitter) that he will continue investing in blockchain, artificial intelligence, and biotechnology. “I am a long-term investor who cares about impact, not returns”, he says. Despite his departure from daily operations, Zhao reassured followers that Binance seems to be doing well without him back-seat-driving, which is every founder’s dream. Zhao shared he also plans to invest more in philanthropy and education highlighting his latest project Giggle Academy. He also said he is about two-thirds complete on writing his book.
Despite his legal troubles, Zhao’s net worth remains above $60 billion, making him the richest person ever to serve time in a U.S. correctional facility. This is a new chapter in Zhao’s life, evolving beyond constraints with a fresh perspective and it is interesting where it can go.