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Author: Jeff John Roberts, Fortune; Compilation: White Water, Bitchain Vision
On Friday, Changpeng Zhao will step on the streets of Long Beach, California, as he regained his freedom for the first time in months.Changpeng Zhao has been in federal custody since April this year after he agreed to return to the U.S. from Dubai for failing to impose appropriate anti-money laundering controls on Binance, the large cryptocurrency exchange he founded.During this period, Changpeng Zhao served about two months in a minimum security prison in the California desert before being transferred to the Midway Home in Long Beach, where he could perform supervised outings, according to a prison official.You can go to the movie.
Now, Zhao Changpeng will have more options, he returns to society with about $60 billion in personal wealth (the 25th richest man in the world), and his legal troubles are a thing of the past.Zhao Changpeng did not immediately respond to direct information inquiries about his plan.
When he was released on Friday two days before the official release date (inmates would leave prison early if the release date was on weekends), he might take a private car to Long Beach or Los Angeles private jet.His first stop may be Dubai or ParisHis children live with their mother He Yi, who is Zhao Changpeng’s former lover and Binance executive.
In an interview with Fortune magazine in 2023, Zhao Changpeng recalled his talented but indifferent late father and expressed concern that he had inherited some of his father’s negligent character.Zhao Changpeng may decide to spend more time with his family, including his sister, son and mother, after he is released from prison, to make up for the lost time.Their families all proved Zhao Changpeng’s character and stood by him during the verdict this spring.
The support of family members helped convince the sentencing judge to accept what some believe is a five-month leniency sentence.The judge also praised Zhao Changpeng for his “extraordinary commitment and dedication to global charity activities.”
At present, it remains to be seen to what extent Zhao Changpeng will transform these charitable commitments into specific activities.Prior to his jail he launched a project called Giggle Academy that promises to create free, fun and accessible learning tools for children around the world.
“In the next chapter of my life, I want to provide opportunities for others, our young people. I am building a platform to provide high-quality education for poor children around the world for free,” Zhao Changpeng at the sentencing hearing.said above.
Currently, Giggle Academy seems to be nothing more than a website.The site includes several job postings a few months ago, but there is no information related to the project schedule or source and scope of funds.However, considering Zhao Changpeng’s recent situation, this may not be surprising, and more details about Giggle Academy may surface in the coming months.
Besides family and charity, Zhao Changpeng, who has now regained his freedom, may turn his attention to his third pursuit: the cryptocurrency industry, the industry has brought him huge wealth and allowed him to dominate for nearly a decade.
However, when it comes to cryptocurrencies, Zhao Changpeng faces a major problem: he must resign as Binance CEO under the terms of the criminal settlement agreement and stay away from any “daily” activities involving the company.At the same time, the settlement also requires Binance to accept two external supervisors imposed by the U.S. government to ensure compliance.
Despite these obvious restrictions, the reality is that Binance no longer operates in the United States because it focuses on Asian and offshore markets.Even if Zhao Changpeng no longer serves as CEO, he is still the company’s largest shareholder, which should have a considerable impact on the company’s future direction.
In response to a request for comment about Zhao Changpeng’s release, a Binance spokesman wrote: “We are glad Zhao Changpeng can go home to reunite with his family. Although he does not manage or operate Binance, we are glad to see what he will do next. Binance has continued to thrive under the leadership of our existing team since last year, with more than 229 million users worldwide.”
Finally, it is worth noting that Changpeng Zhao is only 47 years old—a age that is the prime time of many executive careers, many who have just taken their first position as CEO.All of this shows that Zhao Changpeng is ready for his second phase of career, and his influence will be revealed in the cryptocurrency and business sectors in the coming years.
