Former Binance CEO hints at potential next steps

Changpeng Zhao was released from his four-month sentence on Friday

share

Binance co-founder Changpeng Zhao is a free man. 

Zhao was released Friday from US federal custody after a four-month prison sentence. 

And, of course, we got the long-awaited “gm” post from his account on X.

The former executive gave a sneak peek into what’s next and — to no one’s surprise — he isn’t going back to Binance. But that’s to be expected, given that part of Zhao’s 2023 plea deal bars him from operating or managing Binance for three years after the appointment of a monitor.

The billionaire also paid a $50 million fine and pled guilty to a money laundering charge on top of stepping down as CEO. 

Read more: Why CZ and SBF’s sentencings were so different

During Zhao’s stay in a California correctional facility, Binance appointed two monitors. We reported in June that the exchange confirmed the infamous Sullivan & Cromwell was on board, alongside Forensic Risk Alliance.

But even with that caveat, CZ seems to be happy with how new CEO Richard Teng has been handling Binance. 

CZ noted: “Oh, Binance seems to be doing well without me back-seat-driving, which is excellent. Every founder’s dream!” 

Loading Tweet..

Zhao plans to “chill for a bit,” but that won’t stop him from once again being an active player in crypto. Though, it seems he’ll be taking on an entirely new role. 

He hinted at investing, noting that he’s particularly interested in blockchain and decentralized tech, as well as AI. The areas are familiar to Zhao, though his role as just an investor would be a new one.

“I am a long-term investor who [cares] about impact, not returns,” he said. 

Zhao also plans to dedicate “big part of my life” to Giggle Academy, a nonprofit online education platform. Zhao announced the project in March, before his April sentencing, saying that it would provide free education for first to 12th graders. 

Loading Tweet..

“I will also dedicate more time and funding to charity (and education). I have some rough ideas,” he added. 

Zhao has been productive during his time at the correctional facility, according to the X update. He said he’s nearly done with the book he hinted at in May.

“Writing a book is a lot more work than I anticipated, but will see this one through,” he said.

Loading Tweet..

Zhao’s release, which came on the heels of former Alameda CEO Caroline Ellison’s sentencing, shows the ever-changing landscape of crypto. Though it seems that Zhao plans to stick around, just in a different role than before.

A modified version of this article first appeared in the daily Empire newsletter. Subscribe here so you don’t miss tomorrow’s edition.


Get the news in your inbox. Explore Blockworks newsletters:

  • Blockworks Daily: The newsletter that helps thousands of investors understand crypto and the markets, by Byron Gilliam.
  • Empire: Start your morning with the top news and analysis to inform your day in crypto.
  • Forward Guidance: Reporting and analysis on the growing intersection of crypto and macroeconomics, policy and finance.
  • 0xResearch: Alpha directly in your inbox. Market highlights, data, degen trade ideas, governance updates, token performance and more.
  • Lightspeed: Built for Solana investors, developers and community members. The latest from one of crypto’s hottest networks.
  • The Drop: For crypto collectors and traders, covering apps, games, memes and more.
  • Supply Shock: Tracking Bitcoin’s rise from internet plaything worth less than a penny to global phenomenon disrupting money as we know it.
Tags

Upcoming Events

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research

article-image

Should higher-fidelity graphics be the goal for crypto games — which result in much higher costs and risk?

article-image

From Mel B to Neil deGrasse Tyson, BTC has seen its share of strange celebrity sightings

article-image

Circle’s roadshow will be the real test for the stablecoin issuer

article-image

PitchBook’s Robert Le said crypto projects focused on institutional use cases are the focus

article-image

The decentralized AI firm designed ODS to be owned by the community in an effort to promote more decentralized AI

article-image

The non-profit’s launch and big-name hires aim to grow Solana’s footprint in Washington