Binance founder CZ(CZ) is about to expire from his four-month sentence in the United States and was originally scheduled to be released on the 29th. However, due to the weekend, he is expected to be released from prison early on Friday (27th). Just early this morning, Bloomberg reported that Bureau of Prisons spokesman Scott Taylor confirmed that CZ had been released from a halfway house in Long Beach, California.
In November last year, Binance reached a settlement agreement with the U.S. Department of Justice, the Commodity Futures Trading Commission (CFTC) and other agencies. After pleading guilty and agreeing to pay a fine of US$4.3 billion, founder CZ also admitted to violating U.S. anti-money laundering laws and other charges and resigned from Binance. CEO position and pay a $175 million fine.
Finally, in May this year, the U.S. District Court in Seattle sentenced CZ to four months in prison. In June, he was transferred to the Long Beach Residential Reentry Management Office in central California. He is expected to be released on September 29. Now his sentence has finally been officially completed. Get out of jail.
Three things you might pursue after prison
According to the American Fortune magazine "Fortune", it is speculated that after being released from prison, CZ may take a private plane to Dubai or Paris to reunite with his children and mother He Yi to make up for lost time.
Next, CZ may also promote his charity education. Before he was imprisoned, he announced the launch of the education project Giggle Academy, which aims to provide free basic education to poor children. The official website of the project has published recruitment announcements for several months, but There is no information on the project's timeline or its funding sources and scope, and more details about the project may emerge in the coming months after CZ is released from prison. When CZ stepped down in November last year, he also tweeted that he was willing to become a coach or mentor for new entrepreneurs.
In addition to spending time with his family and promoting charity and education, CZ, who is worth $60 billion, may once again turn his focus to the cryptocurrency industry where he made his fortune. Although under the terms of the criminal settlement, he has resigned as CEO of Binance and needs to stay away from daily operations of Binance. Binance will also accept external supervision designated by the US government. However, Binance has now turned to Asia and offshore market operations. CZ as The largest shareholder should still have a significant influence on its future, and at only 47 years old, he is expected to continue to exert influence in the cryptocurrency and business fields in the coming years.
BNB returns to $600
Before CZ was about to be released from prison, the market paid close attention to whether it would drive the rise of Binance and related currencies in the BNB chain ecology. According to CoinGecko data , BNB once touched $614.7 and is now at $607.4, up 1.4% in the past 24 hours. It has risen 6.8% in the past seven days, indicating that the good news of CZ's release from prison may have been reflected in the price in advance.
