Solana

Read

<p class="is-style-lead">Former Binance CEO Changpeng Zhao opened up about his prison experience, future plans, and relationship with Binance during the Binance Blockchain Week conference.</p>
<p>During his interview on the <a href="https://www.youtube.com/watch?v=WaTSlean-38" target="_blank" rel="noopener noreferrer nofollow">Wu Blockchain podcast</a>, Zhao — effectively ousted as Binance CEO following a plea agreement reached with U.S. authorities last November — candidly spoke about his time in prison. He revealed that human connections were what he missed most during his incarceration.</p>
<p>Addressing his sentence for Banking Secrecy Act violations, Zhao noted he was the first person to receive jail time for a single violation of this nature.</p>
<p>He compared this to recent cases, mentioning TD Bank’s $1.8 billion <a href="https://www.justice.gov/opa/pr/td-bank-pleads-guilty-bank-secrecy-act-and-money-laundering-conspiracy-violations-18b" target="_blank" rel="noopener noreferrer nofollow">fine</a> where no individuals were charged.&nbsp;</p>
<p>You might also like: <a rel="noopener noreferrer nofollow" href="https://crypto.news/bitcoin-etfs-record-total-daily-outflow-of-54-94-million-as-btc-hovers-at-69000/"> Bitcoin ETFs record total daily outflow of $54.94 million as BTC hovers at $69,000 </a></p>
<h3 class="wp-block-heading" id="cz-clarifies-relationship-with-binance">CZ clarifies relationship with Binance</h3>
<p>On his current relationship with <a href="https://crypto.news/bnb-price-unfazed-as-binance-burns-1-7m-tokens/" target="_blank" rel="noopener noreferrer nofollow">Binance</a>, CZ clarified his position as a large shareholder while confirming he has stepped down from operational duties.</p>
<p>Contrary to some reports, he stated there was no explicit “lifetime ban” from managing crypto exchanges in his plea agreement. “Those two words don’t exist in my plea agreement with the government,” CZ explained.</p>
<p>Looking ahead, CZ announced his focus on two main ventures: Giggle Academy and investments in blockchain, AI, and biotech.</p>
<p>CZ stated that he maintains his shareholder rights at Binance. He also expressed no desire to return to an operational role. CZ also stated that even if allowed, he probably wouldn’t go back.</p>
<h3 class="wp-block-heading" id="giggle-academy-takes-center-stage-in-cz-s-future-plans">Giggle Academy takes center stage in CZ’s future plans</h3>
<p>The former CEO revealed ambitious plans for Giggle Academy. Giggle Academy is an educational initiative aimed at providing digital education to approximately 1.2 billion people worldwide who lack access to traditional education.</p>
<p>The platform plans to utilize artificial intelligence (AI), game developers, and teachers to create interactive educational content deliverable through mobile devices.</p>
<p>Zhao emphasized that the project isn’t focused on profitability but rather on social impact. He estimated that it could cost around $1–2 billion to develop the educational content across multiple subjects and languages.</p>
<p>Read more: <a rel="noopener noreferrer nofollow" href="https://crypto.news/nft-sales-drop-6-percent-84-6m-solana-top-ranking/"> NFT sales drop 6% to $84.6m, Solana retains ranking for second-straight week </a></p>
<p>Regarding cryptocurrency markets, Zhao remained optimistic about the industry’s long-term prospects. However, he still acknowledged the short-term unpredictableness.</p>
<p>He noted the historical pattern of four-year cycles in Bitcoin’s (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>) performance and emphasized the continuing need for infrastructure development in the crypto space.</p>
<p>On regulatory matters, Zhao observed positive developments in crypto legislation across various jurisdictions. He stated that larger countries typically move more slowly in implementing regulatory frameworks.&nbsp;</p>
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio">
 <div class="wp-block-embed__wrapper"><iframe title="CZ's First Interview After Release: Prison Reflections, Possible Binance Return, and Future Focus" width="1020" height="574" src="https://www.youtube.com/embed/WaTSlean-38?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
 </div>
</figure>
<p>Read more: <a rel="noopener noreferrer nofollow" href="https://crypto.news/xrp-etf-czs-returns-bitcoin-all-time-high-weekly-recap/"> XRP ETF, CZ returns, Bitcoin retests ATH, on-chain tokenization | Weekly Recap </a></p>

Binance founder Changpeng Zhao speaks about a possible return to the exchange

Table of Contents

crypto.news

Other articles published on Nov 3, 2024

The Secret Altcoins That Are Catching the Attention of Major Investors

Bullish Musk (BULLMUSK) Solana Memecoin to Surge 19,000% Ahead of Exchange Listings, As PEPE, Shi...

5 Top Trending Altcoins That Could Deliver Parabolic Returns in the Next 4 Months

Elon Musk Mentions New Memecoin ‘Pnut,’ Triggering Price Surge!

Strive Enterprises Launches Bitcoin-Centric Wealth Management

Experts Predict Next Moves for Cryptocurrency Market

Join our free newsletter for daily crypto updates!