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Binance Founder CZ Will Continue With His Own New Project After Prison

Key Points:

Binance founder CZ, released from federal custody, plans to invest in blockchain, AI, and biotechnology, and increase his philanthropic efforts.
CZ is currently writing a book and is pleased with Binance’s performance in his absence.

Binance founder Changpeng Zhao, commonly known as CZ, has shared his first public update since stepping down from his role and being released from federal custody.

Binance Founder CZ to Focus on Philanthropy, Technology Investments

Via social media post, Binance founder CZ shared a personal reflection of how being grateful for support during hard times shaped his path in life and helped him chart a course for his future.

CZ further confirmed that he would continue to invest for the long term in emerging technologies, including blockchain, decentralized tech, AI, and biotechnology.

Binance founder CZ also spoke of future plans of devoting more time to philanthropy, particularly towards education, and added that his new venture, Giggle Academy, is going great guns and would become all-consuming for him in the times to come. He said his future projects would focus on earning goodwill, not profits.

New Man After Prison Time

On the other hand, Binance founder CZ is working on a book. He updated that two-thirds is already done. Without mentioning the subject of his book, he did believe it would cover some of his experiences in both the tech and crypto industries. He reassured his followers that the exchange he founded was doing well without his direct touch since its foundation was strong enough to last more time.

Earlier this year, CZ pleaded guilty to breaking the BSA in light of the exchange’s terrible KYC practices that allowed illicit activity to occur. As part of his plea agreement, CZ was sentenced to four months, fined $50 million, and agreed to step down as CEO. Binance agreed to pay $4.3 billion to U.S. regulators for related charges.

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Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.