CZ’s reign at Binance is officially over, but the billionaire visionary isn’t slowing down.
On September 27, Changpeng Zhao, co-founder and former CEO of Binance, completed his four-month jail sentence for failing to uphold an effective Anti-Money Laundering (AML) program at the world’s largest crypto exchange.
With a fortune of $60 billion, making him the 25th-wealthiest person globally, Zhao’s next steps are intriguing. One thing is clear: CZ is done with Binance.
According to Binance’s plea agreement filed on November 21, Zhao is officially barred from having any current or future role in managing the exchange. Current CEO Richard Teng was tight-lipped about CZ’s future in a September 24 interview, only confirming that Zhao remains a major shareholder.
In his farewell post on X (formerly Twitter), Zhao stated, “Binance is no longer a baby. It is time for me to let it walk and run.” Venture capitalist Tim Draper added that he hopes CZ continues to “pursue his original mission toward a Bitcoin economy.”
Zhao seems ready for the next chapter, hinting at a focus on DeFi and possibly passive investments in blockchain, AI, and biotech startups. While he’s not keen on leading another startup, his passion for mentorship and education is clear.
Enter Giggle Academy, Zhao’s brainchild. Launched in March, the free educational platform aims to provide children under 13 in developing countries with access to essential learning in areas like math, finance, and even blockchain.
His goal? To create something with “maximum positive impact” on the world.
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Although his time behind bars marked the end of his leadership at Binance, it’s far from the end of Zhao’s influence.
As the crypto world watches closely, many believe a memoir could be next, documenting the journey of one of the most powerful figures in crypto history. Meanwhile, Binance marches forward, navigating its compliance-driven future.
