Binance Founder Breaks Silence On Unexpected Prison Sentence

After receiving a soft sentence in court on Tuesday, Binance former CEO Changpeng ‘CZ’ Zhao took to X to appreciate his followers for the support shown to him during his trial. Many of these supporters include members of his family who wrote letters to persuade the judge on his behalf before the sentence. 

Giggle Academy Becomes CZ’s New Focus

The Binance founder is already looking beyond his prison sentence as he shared his plans for life after. According to the crypto entrepreneur, he intends to focus on education. 

This is not surprising considering that he launched a new project in March while facing trial. Giggle Academy, as he called it, is a project that is focused on providing free basic education for all across multiple jurisdictions. 

Describing the approach of the project, CZ stated that it would have no revenue, it will deploy gamification and an adaptive curriculum for end users. In his last update about the project, the hiring process for employees has started and so far Giggle Academy has a team of 10 people. 

Some of these employees are full time staff while others will work part time, with a significant part of their duties carried out remotely. With the unexpectedly lenient prison sentence that CZ received, the project may kick off fully in no time.

Binance Founder Bags 4-month Jail Term Instead of 36-months 

After several deliberations on his jail term, the Binance founder was handed a 4-month prison sentence by Judge Richard Jones in a massive and unexpected show of leniency. Owing to the type of charges levied against him, prosecutors from the United States Department of Justice (DOJ) had proposed a 36-months sentencing for CZ. 

However, the case took a new turn when the judge decided to choose the 10 to 16 months jail term recommended by the Probation Office. By the end of the trial, Judge Jones decided that a jail term of only 4-month is appropriate for the Binance founder. 

Just before his sentencing, Changpeng Zhao apologised for his failure to implement Know-Your-Customer (KYC) procedures as the CEO of Binance. His legal team were also keen on establishing his devotion to his family and to tech development. 

All these measures may have contributed to the lenient verdict of Judge Jones.