Crypto Billionaire Zhao Changpeng Eyes New Ventures After Release

Billionaire Zhao Changpeng has committed to continued investment in the blockchain sector, artificial intelligence, and biotechnology, marking his first public remarks since his release from US custody. With a net worth exceeding $30 billion, Zhao is likely the wealthiest individual to have served time in a US correctional facility.

In a post over the weekend on social media platform X, Zhao, co-founder of Binance Holdings, described himself as a long-term investor who prioritizes impact over financial returns.

In November, Binance was fined $4.3 billion as part of a plea deal with US authorities to resolve charges related to the exchange’s failures in preventing misuse by criminals and terrorist organizations. Zhao personally agreed to a $50 million fine and was sentenced to four months in custody. He was released from a correctional facility in California on September 27.

Zhao shared that his latest venture, a non-profit online education platform called Giggle Academy, would now be a significant focus of his life. He also plans to devote more time and resources to charitable efforts.

Binance remains the largest crypto exchange globally, playing a central role in the trade of digital assets and derivatives. Under the plea agreement, Zhao stepped down as CEO, with Richard Teng assuming the position. The exchange will continue to be monitored for compliance by both the Justice Department and the Financial Crimes Enforcement Network.

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