Binance co-founder Zhao Changpeng has committed to continuing his investments in blockchain, artificial intelligence (AI), and biotechnology. This marks his first public comment after being released in the United States.
Over the weekend, Zhao posted on social media platform X, describing himself as a long-term investor focused on "impact rather than returns." Last November, Binance agreed to pay a $4.3 billion fine to settle U.S. charges of failing to take adequate action, which allowed criminals and terrorist organizations to use the exchange. Zhao agreed to a personal fine of $50 million and was subsequently sentenced to four months in prison. He was released from a California prison on September 27.
Zhao announced his new project, Giggle Academy, a nonprofit online education platform he plans to make a significant part of his life. He emphasized his intention to continue investing in blockchain/decentralization technology, AI, and biotechnology, focusing on impact over returns. He also mentioned that he would dedicate more time and resources to philanthropy and education.
As the world’s largest cryptocurrency exchange, Binance is critical for trading digital assets and related derivatives. According to the plea agreement, Zhao stepped down as CEO, with Richard Teng succeeding him. The platform also faces ongoing compliance monitoring by the U.S. Department of Justice and the Treasury Department's Financial Crimes Enforcement Network.
