No Comeback: Binance Founder CZ Says He’s Not Returning To The Exchange

Binance founder Changpeng Zhao, or “CZ,” is back in the limelight after serving four months in jail. One of Zhao’s first public appearances was at the Binance Blockchain Week conference, where he discussed his experience, future plans, and current relationship with the exchange he founded.

In a podcast, Zhao shared his experiences while outside the public eye. For Zhao, what he missed the most was human connections. It can be remembered that the Binance founder was charged with violations of the Banking Secrecy Act and accepted a plea agreement with the authorities.

He lamented that he was the first to serve jail time for this violation. The Binance founder added that there were other high-profile cases, such as the $1.8 billion fine on TD Bank, yet no person was charged for this fiasco.

Zhao Maintains He’s No Longer Involved With Binance Operations

CZ, in that podcast, spoke at great lengths about his relationship and prospects with the exchange that he established. He also pointed out that he still remained one of its major stockholders but was no longer on the management team.

He also shot down the reports that he was banned from managing cryptocurrency exchanges for a “lifetime.” Zhao added that a ban was not included in last year’s plea agreement.

He added that he’s now focusing on other ventures, including the Giggle Academy, and shared that he had investments in AI, blockchain, and biotech. Although he’s one of the biggest stockholders, Zhao clearly stated that he’s no longer keen on returning to help in operations.

Zhao Remains Optimistic About Crypto’s Future

When asked about his thoughts on the crypto market, Zhao said he remains optimistic about the industry’s long-term growth. However, he cautioned holders and stakeholders about the risks and volatility in the short term.

Zhao then moved to the topic of Bitcoin’s historical path of the four-year cycle. In the end, the Binance CEO also shared with the audience his viewpoint regarding the positive developments in the field of regulations.

Zhao And His Plans For Giggle Academy

By detaching himself from Binance, Zhao slowly embraces other subjects, including the Giggle Academy. He described the new project as an educational initiative that promises to deliver digital education to more than 1 billion people with no or limited access to basic education.

Zhao shared that the initiative will rely on artificial intelligence and teachers to create interactive lessons delivered across devices.

Featured image from UEEx, chart from TradingView