Changpeng Zhao Walks Free: What’s Next for the Binance Founder?

The news of CZ’s release has shaken the crypto industry, leaving investors curious about his future moves. Some are even speculating that this could be the catalyst for the next bull run. 

In his first post-release statement, the former Binance CEO asked for some time to “chill” and expressed optimism, saying, “There are always more opportunities in the future than there were in the past.” While he’s not yet ready to outline his next steps, he reassured his followers that he has no plans to leave the crypto industry for good.

CZ expresses gratitude to his supporters. Source: Х

Reunion of Binance Co-founders

Changpeng Zhao (CZ) is currently refraining from public interviews and keeping his future plans private. However, his lawyer has confirmed that CZ plans to travel to Dubai to reunite with his family. His wife, Yi He—who is also a co-founder of Binance—and their children are currently living there.

Yi He plays a pivotal role in shaping Binance’s policies. She leads Binance Labs, the company's venture arm, and manages relationships with institutional investors. Despite several attempts by authorities to implicate her in her husband's legal issues, Yi He remains unaffected and continues to be a powerful force within Binance, often referred to as the “uncrowned queen of crypto” and the driving force behind the scenes.

Yi He and Changpeng Zhao. Source: Facebook

During CZ’s legal challenges, his family—his wife, mother, and sister—staunchly defended him. They not only supported him throughout the trial but also vouched for his character and future lawfulness, helping sway Judge Richard Jones to impose a lenient sentence of just four months in prison. This decision came as a surprise to many, especially since federal prosecutors had requested a three-year sentence.

Does CZ Still Have a Hand in Binance’s Future?

The legal restrictions barring CZ from leading Binance have significantly hampered his ambitions. However, with his extensive experience and strong connections in the crypto world, he is expected to find new avenues to exert influence. Now that he’s out, CZ has even more resources at his disposal: his net worth stands at $60 billion, placing him 25th globally, and with his legal troubles behind him, he is now considered “clean” by U.S. authorities. 

Despite being officially removed from leadership, CZ still holds significant sway over Binance as its largest shareholder, owning approximately 90% of the company’s shares. He also remains the primary shareholder of Tokocrypto, an Indonesian crypto exchange and a part of the Binance group. 

Some industry insiders speculate that CZ could take on an advisory role at Binance while simultaneously investing in other emerging crypto projects. Binance’s new CEO, Richard Teng, has not ruled out the possibility of CZ’s continued involvement, even after the company paid $4.3 billion in penalties to U.S. authorities, along with CZ paying $50 million in personal fines.

CZ leaving federal court in Seattle after sentencing on April 30. Source: koreatimes

CZ to Focus on Philanthropy

Changpeng Zhao plans to dedicate more of his time to charity and supporting startups. One of the key initiatives in his philanthropic work could be Giggle Academy, an educational project he envisioned even before his legal troubles began. Giggle Academy aims to develop and provide free online learning tools for children, making education more accessible globally.

“For the next chapter of my life, I want to provide opportunities for others, namely our youth. I’m building a platform to provide high-quality education for underprivileged kids, all around the world, for free,” said CZ.

Final Words

The cryptocurrency industry is facing turbulent times. Regulatory crackdowns are ramping up worldwide, SEC fines are becoming more severe, and global conflicts are causing significant market corrections. In these challenging conditions, Zhao will face the task of maintaining his influence in the industry while adhering to the terms of his legal settlement. He will need to adapt and strike a balance between his personal ambitions and public responsibilities.

CZ's future remains uncertain, but one thing is clear: his career as one of the most influential figures in the crypto world is far from over. He still holds the power to move markets with a single tweet—an influence that even Elon Musk has struggled to maintain recently.