Mr. Changpeng Zhao appeared before the media at the Binance Blockchain Week event being held in Dubai.
CZ made his first public appearance since being released from prison. Image: @NissimTwitt on X (Twitter)
On the afternoon of October 31, former Binance CEO Changpeng Zhao (CZ) was present at the Binance Blockchain Week conference in Dubai (UAE), where he participated in a panel discussion and took photos with attendees.
This is the first time CZ has appeared before the media since completing his 4-month prison sentence in the US at the end of September, after pleading guilty to "negligence in anti-money laundering efforts" at Binance. The exchange had to pay a record $4.3 billion fine to settle the case with the US Department of Justice. CZ himself was fined an additional $50 million and banned from holding a management position at Binance for 3 years.
In contrast to his familiar image wearing a Binance logo t-shirt, Changpeng Zhao has switched to wearing a shirt printed with the brand name of Giggle Academy, an educational project for children that he launched earlier this year after resigning as CEO of the exchange.
When asked about his time in prison, the former Binance CEO said he felt quite comfortable as he no longer had to work as much as before, but had many limitations due to the lack of other activities. Mr. Zhao acknowledged that he had the opportunity to reflect on himself and reorganize his life priorities.
He also said he did not face any difficulties from other inmates or encounter any problems. CZ shared that he had met many new people in prison, made friends with them, and maintained those relationships to this day. He revealed that the prison guards had asked him for investment advice on cryptocurrencies, but the former Binance CEO declined, saying he was not allowed to access the Internet and could not keep up with the latest trends.
NEW: @cz_binance REVEALS THAT A COUPLE OF PRISON GUARDS ASKED HIM WHICH COINS THEY SHOULD BUY
— DEGEN NEWS (@DegenerateNews) October 31, 2024
pic.twitter.com/3ihTIAIQ3e
Commenting on the 4-month prison sentence he had to serve, Changpeng Zhao said that according to the agreement with the US, he was not allowed to express any dissatisfaction with it. However, the former Binance CEO stated that with his charge, he was the first to be sentenced to prison. Mr. Zhao also mentioned the recent case where TD Bank was fined $3 billion by the US for money laundering, but no executive was criminally prosecuted.
However, CZ acknowledged that he was fortunate to receive a light sentence instead of potentially facing many years in prison, and said he just wants to "leave it all behind".
Changpeng Zhao has once again confirmed the previous information about his relationship with Binance, stating that he is no longer involved in the exchange's day-to-day operations, but remains the majority shareholder. CZ said the agreement with the US authorities does not prohibit him from returning as Binance CEO, but the terms could be changed in the future. CZ declared that he has no intention of returning to his former position, even if invited.
Binance's current CEO, Mr. Richard Teng, had earlier in September stated that CZ will never be able to return to the position of CEO of the exchange.
In the coming time, Changpeng Zhao will focus his attention on two key areas: investment and education, similar to the first statement made by the former Binance CEO after completing his prison sentence, as reported by Coin68 at the end of September.
Compiled by Coin68
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