Life teaches nothing: the founder of Binance, released from prison, intends to get involved in crypto again

The founder of the Binance cryptocurrency exchange, Changpeng Zhao, who was recently released after a four-month sentence in a US penitentiary, intends to continue investing in the blockchain sector, as well as in artificial intelligence and biotechnology, Bloomberg writes, citing his post. on social network X.

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«I know some of you may have a lot of questions. I won’t have all the answers. Let me cool down a little. Then I’ll figure out the next steps. There are always more opportunities in…” Changpeng said.

Last November, crypto exchange Binance was fined $4.3 billion as part of a settlement with the US Department of Justice. Zhao agreed to pay a $50 million fine and was later sentenced to four months in prison. He was released from a correctional facility in California on September 27.

In accordance with the agreement with the US Department of Justice, Zhao resigned as CEO of Binance, handing over the reins to Richard Teng. The crypto exchange has reportedly been under surveillance for a long time by the Department of Justice and the Financial Crimes Enforcement Network of the US Treasury Department.

Zhao said his new venture called Giggle Academy, a non-profit online education platform, “will be a big part of his life.” He also promised to devote more time to charity, for which he will allocate more funds. According to the Bloomberg Billionaires Index, Changpeng Zhao’s net worth is more than $30 billion.