TL;DR
- Changpeng Zhao (CZ), the founder of Binance, returned to the public scene after his release from prison in the U.S., but he will not resume his role as CEO of the company.
- During his time in prison, Zhao focused on writing, exercising, and debating cryptocurrencies with fellow inmates.
- His return coincides with a surge in the crypto market following Donald Trump’s victory, which increased his fortune to nearly $53 billion.
Changpeng Zhao (CZ), the founder of Binance, made his triumphant return to the public scene in Dubai after his release from U.S. prison.
The billionaire was greeted with enthusiasm by his followers, who eagerly waited to take selfies with him. However, his return does not mean he will resume his role as CEO of Binance, as his agreement with the U.S. Department of Justice forbids him from leading the company again. Despite this restriction, Zhao stated that he is at peace with the situation.
No Intention of Returning to Binance
In his first public interview since his release from prison, Zhao shared his reflections on the months he spent behind bars. During his time in prison, he focused on writing a book, exercising, and having cryptocurrency discussions with other inmates. Despite having been Binance’s CEO for seven years, CZ expressed that he has no intention of returning to that position, as, although he enjoyed the challenge, he believes that chapter of his life is now behind him.
The Net Worth of CZ Reached Nearly $53 Billion
His return coincides with a favorable period for cryptocurrencies, especially after Donald Trump’s victory in the U.S. presidential election, which triggered an incredible rise in the value of cryptocurrencies. This surge boosted Zhao’s net worth to nearly $53 billion, an increase of $12 billion in a single day. CZ, who was arrested after a deal with the authorities for failing to implement an adequate anti-money laundering program at Binance, remains a very influential figure in the crypto world, despite his absence as an active executive at the platform.
Now, CZ defines himself as a passive investor and has made it clear that his main interest is exploring new opportunities in sectors such as artificial intelligence and biotechnology. Additionally, he still holds a majority stake in Binance, although his influence within the company is limited.
