Thomas Daniels
Former Binance CEO Changpeng Zhao, also known as “CZ,” recently offered rare insights into his personal experiences, his relationship with Binance, and his plans for the future at the Binance Blockchain Week conference. Following his resignation as Binance’s chief executive under a plea agreement with U.S. authorities, Zhao spoke openly about his time in prison and his next steps.
In an interview on the Wu Blockchain podcast, Zhao revealed that he most missed human interaction during his time in prison. Discussing his sentence—stemming from a single violation of the Banking Secrecy Act—he pointed out that he is the first individual to receive jail time for such a charge. Zhao highlighted the contrast with larger financial institutions, citing TD Bank’s $1.8 billion fine for similar violations, which involved no criminal charges against individuals.
Zhao on His Current Role with Binance
Addressing speculation about his ties with Binance, Zhao clarified that while he has stepped down from his operational duties, he remains a significant shareholder. Contrary to some reports, he confirmed that there is no permanent prohibition on him from managing a crypto exchange, saying, “Those two words don’t exist in my plea agreement with the government.” However, Zhao expressed little desire to return to an operational role at Binance, noting that even if he could, he would likely decline.
Giggle Academy: CZ’s Vision for Global Digital Education
Looking toward the future, Zhao is focused on Giggle Academy, a global digital education platform he intends to build to provide accessible education to approximately 1.2 billion people worldwide who currently lack access to traditional learning resources. The platform aims to leverage AI, gamification, and mobile technology to create engaging educational content. Zhao emphasized that Giggle Academy’s mission is primarily social impact, not profit, with an estimated development cost of $1-2 billion.
CZ on Crypto Markets and Regulation
Turning to cryptocurrency markets, Zhao maintained his long-term optimism, while recognizing the volatility that characterizes the sector in the short term. He noted the historical cycles in Bitcoin’s performance and underscored the need for continued infrastructure development to support industry growth.
On regulation, Zhao observed progress in crypto legislation across various countries, noting that while smaller jurisdictions tend to be more agile, major countries often take longer to establish clear frameworks. Nonetheless, Zhao is hopeful about the evolving regulatory landscape.
