Changpeng ‘CZ’ Zhao, the founder and former CEO of the popular Binance crypto exchange, will be released on September 29. Wu Blockchain disclosed this in an X post, highlighting the official website of the U.S. Federal Bureau of Prisons as the source.
Reactions to Changpeng Zhao’s Release Date
The crypto community reacted positively to the news as CZ’s release is viewed as a bullish factor for digital assets linked to Binance. These assets include Binance Coin (BNB) and the soon-to-be-launched Catizen memecoin.
In preparation for his release, CZ was moved from prison to a halfway house in the Residential Reentry Management office in Long Beach, California. The action was initially thought to be CZ’s release from prison. However, records show that he is still in prison and will be released next week on September 29.
CZ began his four-month prison sentence on May 31 after pleading guilty to money laundering charges and violating US regulations. He resigned as Binance CEO in November as part of a settlement with the US Department of Justice (DOJ). CZ was barred from holding an executive position at Binance or any other crypto firm in the future.
Additionally, Binance agreed to pay $4.3 billion for “civil regulatory enforcement actions.”
What’s Next for the Binance Founder
Before committing to prison, CZ stated his plans for the future, highlighting a focus on education. While facing trial in March, the former CEO launched a new project called Giggle Academy.
The project aims to provide free basic education across various jurisdictions. CZ said the project will generate no revenue and deploy gamification and an adaptive curriculum for end users. According to his last update, Giggle Academy has a team of 10 people and was actively seeking additional staff before he commenced his prison term.
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