Zhao Changpeng, the co-founder and former CEO of Binance, expressed in his first public appearance post-incarceration that he doesn’t intend to reclaim his role at the cryptocurrency exchange. At 47, the Chinese-Canadian entrepreneur, known as CZ, served a prison sentence in California for not adhering to anti-money laundering regulations while leading Binance, the world’s largest crypto exchange. Released in September after four months, he stated during an interview at the Binance Blockchain Week conference that he has no intention of going back, noting, ‘I don’t have any need to go back. I don’t have any wish to go back.’
Zhao remains the largest shareholder of Binance and believes he can still access company information. He mentioned that he appreciates the current efforts of the new team running the company. Now, he is focusing on other ventures, including Giggle Academy, aimed at education, as well as investing in sectors like blockchain, artificial intelligence, and biotech. Despite being penalized with a $50 million payment under his plea deal, Zhao’s wealth has soared to 135 billion yuan (approximately $19 billion), making him the 16th richest entrepreneur in China, as cryptocurrency trading volumes surged this year.
Reflecting on his prison experience, Zhao noted he found some inmates to be very decent people and maintains connections with a few whom he is helping legally.
