Changpeng Zhao or CZ, founder of the world’s largest Cryptocurrency exchange, Binance, revealed some of his plans for this new stage of his life. Last week, the businessman served a short prison sentence in the United States, which lasted for about 4 months.
It should be noted that his stay in custody in the North American country is related to his financial mismanagement of Binance. Although the exchange became the largest reference for cryptocurrency trading on the entire planet under his leadership, CZ neglected other aspects. In particular, its platform lent itself to money laundering and other crimes linked to commerce.
At the end of 2023, when the pressure was unbearable, the businessman reached an agreement with the authorities. At this point he admitted guilt for the crimes of which he was accused, and also agreed to pay a multimillion-dollar fine. Thanks to this agreement, his prison sentence was short and he is now ready to return to the business world.
In a recent publication on the social network X, the businessman reflected deeply on his future plans. In this way, its next steps will be divided between charity and investment in technological sectors. Binance founder CZ said the main goal of his investments is impact and not profit.
gm, the food tastes so good… And what a luxury to be able to have more than one piece of fruit per day!
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
— CZ 🔶 BNB (@cz_binance) September 29, 2024
CZ celebrates the good performance of Binance
In the aforementioned social media publication, the businessman highlighted that one of his main focuses of interest is Giggle Academy. It is a platform focused on free education for children from different parts of the world, especially developing countries. “It will take up a big part of my life for the next few years,” he said.
Likewise, he stressed that his capital investments will continue towards sectors such as Blockchain and decentralized technologies. Added to this are rising technologies such as artificial intelligence and biotechnology. He added that he considers himself a long-term investor who cares more about impact than returns.
Next, he stressed that he will dedicate more time and resources to charity, particularly education. Consequently, some rough ideas would already be under your contemplation. The Founder of Binance added that his book is in the process of closing and so far he has advanced two thirds of it in a job that CZ himself describes as difficult.
Finally, Zhao took the opportunity to talk about Binance. In his post he expressed excitement that the exchange is functioning properly without requiring his presence. Regarding this aspect, he highlighted that this is the dream of every founder. Recently, the current CEO of Binance, Richard Teng, expressed that institutional investors are flocking to the platform.
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