Crypto mogul Changpeng Zhao vows to expand tech investments after release from US custody

Billionaire Changpeng Zhao, co-founder of Binance Holdings Ltd., made his first public statement over the weekend after being released from US custody.

In a post shared on social media platform X, Zhao reiterated his commitment to investing in blockchain, artificial intelligence, and biotechnology, emphasizing his long-term vision centered on impact rather than financial returns.

“Focused on impact, not returns,” Zhao says

Zhao, in his post, conveyed optimism about the future, writing, “There are always more opportunities in the future than there were in the past.”

He acknowledged that many people might have questions but said he would take time to reflect before determining his next steps.

“Let me chill for a bit. Then figure out the next steps,” he added, hinting at upcoming plans.

He expressed gratitude for the support he received during his time in custody, noting that it helped him through some of his darkest moments.

Among the updates Zhao shared was his ongoing work on Giggle Academy, a nonprofit online education platform.

He revealed that this initiative will be a major focus in the years to come and highlighted his intentions to dedicate more resources to charitable work and education.

Binance continues to thrive without Zhao

Zhao also reflected on Binance’s current standing, stating that the exchange is performing well even without his direct involvement.

“Oh, @binance seems to be doing well without me back-seat-driving, which is excellent. Every founder’s dream!” he wrote, expressing satisfaction with the company’s ongoing operations.

Binance, the largest digital-asset exchange globally, plays a pivotal role in the trading of cryptocurrencies and related derivatives.

The platform continues to face scrutiny and regulatory oversight, particularly from US authorities.

Legal troubles and $4.3 billion penalty

In November, Binance faced a significant setback after being hit with a $4.3 billion fine as part of a plea agreement to settle US charges regarding regulatory failures that allowed illicit actors, including criminals and terrorist organizations, to use the platform.

Zhao personally agreed to pay a $50 million fine and served four months in custody before his release on September 27 from a correctional facility in California.

Under the terms of the plea deal, Zhao stepped down as Binance’s CEO, handing over leadership to Richard Teng.

The platform now faces years of compliance monitoring by both the US Department of Justice and the Financial Crimes Enforcement Network, a division of the US Treasury.

In addition to his technological investments, Zhao shared plans to focus more on charitable efforts.

He mentioned that he is still in the process of writing a book, which is two-thirds completed, describing the project as more demanding than he initially expected but something he is determined to finish.

With an estimated net worth exceeding $30 billion, according to the Bloomberg Billionaires Index, Zhao ranks among the wealthiest individuals globally, and likely the richest person to have served time in a US correctional facility.

“See you at the conferences”

Despite stepping away from the helm of Binance, Zhao’s influence in the tech and blockchain sectors remains substantial.

gm, the food taste so good… And what a luxury to be able to have more than one piece of fruit per day!

I know some of you may have a lot of questions. I won’t have all the answers.

Let me chill for a bit. Then figure out the next steps. There are always more opportunities in…

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He concluded his post with a hint of his future engagement in the industry, stating, “Stay tuned. See you at the conferences.”

As he charts a new course with Giggle Academy and continues to invest in emerging technologies, Zhao’s next steps will be closely watched by the crypto world and beyond.

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