Zhao intends to work on a book, charity work, and his educational initiative, Giggle Academy.
After serving a four-month prison sentence in the United States, Changpeng Zhao, the former CEO of Binance, has promised to increase his investments in the blockchain industry.
Zhao also revealed his intentions to invest in biotech and artificial intelligence on X over the weekend. He made it clear that, as a long-term investor, he places more importance on having an impact than on profits.
gm, the food taste so good… And what a luxury to be able to have more than one piece of fruit per day!
— CZ 🔶 BNB (@cz_binance) September 29, 2024
I know some of you may have a lot of questions. I won't have all the answers.
Let me chill for a bit. Then figure out the next steps. There are always more opportunities in… https://t.co/9hvgp8Bo97
Changpeng Zhao Pledges More Time to Giggle Academy and Charity Work
Zhao added that a large portion of his time in the upcoming years will be devoted to his educational project, Giggle Academy. Globally, the project seeks to offer free basic education for students in grades 1 through 12. It uses gamification, adaptive learning, and blockchain technology as well as “soul-bound tokens” to validate students’ accomplishments, all without a revenue model.
“I will also invest more money and time in charitable causes (and education).” I have some rough ideas,” he said.
Zhao also disclosed that he has finished two-thirds of the book he is currently writing.
Changpeng Zhao, also known as CZ, was sentenced to four months in prison on April 30, 2024, for violating the Bank Secrecy Act by neglecting to establish a robust anti-money laundering system at Binance. This came after he entered a guilty plea in November 2023, acknowledging that he had enabled transactions linked to criminal proceeds and sanctioned nations such as Iran and Cuba.
Despite Legal Troubles and $50M Fine, CZ’s Net Worth Stands at $30.8B Post-Binance Penalty
CZ consented to resign as CEO of Binance and pay a $50 million fine as part of the plea agreement. For similar infractions, Binance was fined $4.3 billion, one of the highest corporate penalties in US history.
Due to a provision in US Code Title 18 that prohibits releasing prisoners on weekends, Zhao was given an early release from prison on Friday, ahead of his planned release date.
Despite facing legal challenges, Zhao’s net worth is about $30.8b, according to the Bloomberg Billionaires Index. This financial standing is primarily due to his substantial ownership in Binance.