2024

when

Dubai

Binance founder and former CEO Changpeng Zhao, known widely as “CZ,” walked into a packed house at Dubai’s Binance Blockchain Week 2024, his first public appearance since serving a four-month prison sentence. 
The crypto mogul faced a standing-room-only crowd, eager to catch a glimpse of his comeback. Zhao was released from U.S. custody last month after a guilty plea to violating the Bank Secrecy Act. 
Thousands crammed into the event, squeezing shoulder to shoulder, with phones ready, documenting every moment. 
CZ took the stage Thursday on day two of the two-day conference. In the hour leading up to his appearance, the venue filled to capacity. Half an hour before he even appeared, there wasn’t an empty seat in sight. 
The crowd erupted when he walked onto the stage, phones flashing, with Altcoin Daily founder Austin Arnold acting as moderator. Austin opened the conversation with a deadpan: “First question, how was your summer?” The crowd burst into laughter, but CZ’s response took a more serious turn.&nbsp; 
<h3 id="span-style-font-weight-400-prison-s-not-fun-span">“Prison’s not fun”</h3> 
“It’s not good,” CZ said when describing his prison experience, bringing the room to a silence. “It’s less fun than now [at Binance Blockchain Week].” Speaking about the restrictions he faced, he said, “Your freedom is taken away, and you have nothing to do, so it gives you a lot of time to reflect.” 
Under his plea agreement, CZ admitted to violating the Bank Secrecy Act but can’t criticize the terms publicly. He described his time behind bars as “limiting in a lot of ways,” explaining how it cut him off from his family, friends, and colleagues. 
During the session, CZ also addressed his lack of plans to lead another crypto exchange. However, he emphasized that his case marked the first time an individual had gone to prison over a Bank Secrecy Act violation, contrasting it with TD Bank’s settlement with U.S. prosecutors, where no executives faced jail time. 
He joked about the irony of watching both U.S. presidential candidates—former President Donald Trump and Vice President Kamala Harris—discuss crypto on the campaign trail while he was in prison. “I’m sitting in prison like, ‘What the hell happened? What if I waited for two months?’” 
<h3 id="span-style-font-weight-400-moving-on-giggle-academy-and-new-ventures-span">Moving on: Giggle Academy and new ventures</h3> 
When Austin asked about his plans, CZ highlighted his focus on Giggle Academy, a project that provides digital education for those with limited access to resources. First announced last year, Giggle Academy now takes up about half his time. 
“Today, there’s about 700 to 800 million adults who are illiterate, and two-thirds of them are women,” he told the audience. “And on top of that, there are around 300 million to 500 million kids who don’t go to school.” 
According to CZ, current educational tech solutions mainly supplement existing systems, leaving gaps for those without access to traditional education. 
Beyond Giggle Academy, CZ detailed his investment strategy, focusing on artificial intelligence, biotech, and new blockchain projects. With crypto’s influence expanding, he’s clearly diversifying his impact areas. But even with new ventures, his roots in crypto remain strong. 
The message was clear: CZ isn’t disappearing from the blockchain scene, though he’s taking a step back from running an exchange directly. 
The conference’s first day featured Richard Teng, CZ’s successor and current Binance CEO. Teng mingled with attendees on the exposition floor, posing for photos and exchanging ideas. Binance co-founder He Yi was also there, where she shared that CZ leaving the company was very hard for them to deal with. 
<h3 id="span-style-font-weight-400-industry-reactions-and-regulatory-challenges-span">Industry reactions and regulatory challenges</h3> 
CZ’s comments on regulation triggered discussions across the event. While he appeared optimistic about the future of crypto laws, others expressed doubts. Notably, Paxos CEO Charles Cascarilla used the event to urge a rethinking of U.S. crypto regulations. 
In an open letter to Trump and Harris, Cascarilla called for stablecoin-friendly policies, stating, “Stablecoins or digital dollars—U.S. dollars digitized via blockchain technology—are the crucial upgrade for the payment system.” 
He argued that stablecoins could sustain the dollar’s global dominance and make transactions more efficient. Cascarilla’s letter went public on October 29, pushing for innovation-friendly laws. 
He described stablecoins as a solution to what he called a “closed, outdated and inefficient” financial system, presenting them as the gateway to financial accessibility and faster money movement. Stablecoins, he believes, could integrate seamlessly with the internet, creating a more inclusive economy. 
Crypto proponents see Trump as the more favorable candidate for the industry, expecting less restrictive regulations than those from Harris.

CZ takes the stage at Dubai Binance Blockchain Week 2024, says he isn’t banned from Binance

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