No one

Bank

Richard

Better

He’s banned from running Binance for life — and says he plans to educate children and focus on philanthropy. But does that mean CZ’s days in crypto are truly behind him? 
<a href="https://crypto.news/tag/changpeng-zhao/" target="_blank">Changpeng Zhao</a> was the world’s richest inmate, with Forbes estimating his net worth at $61.6 billion. 
Now, after serving <a href="https://crypto.news/binance-founder-changpeng-zhao-sentenced-to-4-months-in-prison/" target="_blank">four months</a> behind bars for admitting that <a href="https://crypto.news/tag/binance/" target="_blank">Binance</a> failed to enforce adequate <a href="https://crypto.news/tag/kyc/" target="_blank">Know Your Customer</a> checks — a violation of the Bank Secrecy Act — he walked out of a low-security prison in <a href="https://crypto.news/tag/california/" target="_blank">California</a> as a free man on Friday Sept. 27. 
CZ’s initial release date had been <a href="https://crypto.news/former-binance-ceo-changpeng-zhao-to-be-released-from-u-s-prison/" target="_blank">slated</a> for September 29, but rules suggested that, given this would be a Sunday, wardens had the discretion to release him on Friday instead. 
<figure class="wp-block-image size-full">
 <img loading="lazy" decoding="async" width="1664" height="1462" src="https://crypto.news/app/uploads/2024/09/Screenshot-2024-09-27-at-13.14.26.png" alt="Changpeng Zhao is walking free. What will he do next? - 2" class="wp-image-14300223">
 <figcaption class="wp-element-caption">
 Changpeng Zhao | Source: @cz_binance
 </figcaption>
</figure> 
Despite the relatively short sentence, life will be quite different for the billionaire. He commanded a cult-like status while overseeing Binance, but he has now been handed a lifetime ban from managing the exchange. 
All of this has led to swirling speculation about what CZ will do next. Will he return to <a rel="" href="https://crypto.news/tag/cryptocurrencies/">crypto</a>, the industry that made him his vast fortune? Could there be a pivot to <a rel="" href="https://crypto.news/tag/ai/">AI</a>? At the hearing where he was sentenced back in April, the 47-year-old <a rel="" href="https://crypto.news/beyond-binance-zhaos-pivot-to-education-amid-doj-plea-deal/">suggested</a> that neither was a priority, declaring: 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 “For the next chapter of my life, I want to provide opportunities for others, namely our youth. I’m building a platform to provide high-quality education for underprivileged kids, all around the world, for free.” 
</blockquote> 
To that end, a website has been created called <a href="https://www.giggleacademy.com/" target="_blank" rel="nofollow">Giggle Academy</a> — but a cursory glance suggests that it remains very much in the pre-launch phase. 
For its part, Binance is wishing CZ well and making clear that there are no hard feelings since Richard Teng succeeded him as CEO. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 “We are delighted that CZ will be home with his family. While he is not managing or operating Binance, we are excited to see what he does next.”&nbsp; 
</blockquote> 
There’s little doubt that the entrepreneur will be itching to update his 8.8 million followers on X, where he was a visible presence before his incarceration. 
<h2 class="wp-block-heading" id="cz-s-future">CZ’s future</h2> 
Campaigners maintain that the punishment CZ received amounts to nothing more than a slap on the wrist — with Better Markets previously claiming there was “overwhelming evidence” to suggest CZ “willfully, knowingly, and intentionally designed and ran Binance to be a crypto money laundering superstore for the most despicable global criminals.” 
His four-month stint in jail was well short of the 18-month maximum set out in sentencing guidelines — and miles away from the three years that U.S. prosecutors had sought. One former Binance employee, who did not wish to be named, told crypto.news:&nbsp; 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 “It seems like a pretty short sentence compared to the crimes that he was on trial for — it feels like yet another example of a financial criminal not being prosecuted for long enough.” 
</blockquote> 
They went on to argue that, given their personal knowledge of CZ and his personality, four months is nowhere near enough for the fallen businessman to learn from his crimes. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 “I’d imagine he sees this as a small but unfortunate blip in his path towards building his empire.” 
</blockquote> 
The ex-Binance employee told us that they are unsure whether CZ will ever make an appearance in the crypto space — but noted that some of his closest lieutenants have now taken over leadership of the exchange. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 “Even if he is never actually ‘working’ in crypto again, the fact that He Yi is still at Binance means that CZ will never be far from crypto.” 
</blockquote> 
He Yi is Binance’s co-founder and chief customer service officer, who has been CZ’s partner since 2014. 
But there’s a bigger question to ask here — how much damage has Changpeng Zhao done to the world’s largest crypto exchange? The platform has been banned by some of the world’s largest economies in recent years — including the U.K. and U.S. When asked whether his jail time will have a lasting impact on the platform, our source said: 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 “I don’t actually think so. No one seems to remember CZ and Binance’s crimes compared to SBF and FTX.” 
</blockquote> 
There’s little doubt that CZ’s top priority now is to start rehabilitating his image — but both he and Binance will continue to face legal challenges in the coming months. 
Just a few short years ago, any reference to potential headwinds would have attracted a breezy “4” from CZ — a number he used as shorthand for “<a href="https://crypto.news/tag/fud/" target="_blank">FUD</a>“: fear, uncertainty and doubt. 
No longer a part of the empire he helped build, Changpeng Zhao may not cut a more humble figure.

Changpeng Zhao is walking free. What will he do next?

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