CZ’s Next Move: Investing in Tech After Prison Release

• Binance’s former CEO, Changpeng Zhao, was released on September 27th.
• The billionaire will take some personal time and “chill for a bit.”
• CZ said that he will direct most of his time towards Giggle Academy.

Changpeng Zhao (CZ), Binance co-founder, is investing in blockchain, biotechnology, and AI following his release from prison.

CZ, who spent four months in a California correctional facility as part of a settlement with the US Department of Justice, announced his plans in a post on X. He also plans to dedicate more time and resources to philanthropy and complete his book.

The billionaire said he will “dedicate more time and funding to charity” and also work on his book, which is two-thirds complete. He noted that Binance has been doing well since he left the company as part of the settlement deal with the United States Department of Justice (DoJ). The four-month prison sentence was also part of this deal.

Zhao said he will take some personal time to “chill for a bit” while figuring out his next steps. However, he plans to dedicate a lot of time to Giggle Academy, a non-profit online education platform.

According to Bloomberg, Zhao has a net worth above $30 billion, which made him the richest ever US inmate.

Binance Focuses on Collaboration with Regulators

After clashes with the DoJ and the SEC, Binance, under its new CEO Richard Teng, has decided to comply with regulators. Coin Edition reported that the exchange helped India’s Enforcement Directorate (ED) crack down on a fraudulent online gaming platform, Fiewin.

Read also: Binance CEO Backs BlackRock’s Bitcoin Hedge Against $35T US Debt

Meanwhile, Binance, Indonesian exchange Tokocrypto, and the country’s regulator Bareskrim, recently seized a whopping $200,000 from a crypto scam prevailing in the region.