Changpeng “CZ” Zhao, former CEO of Binance and a prominent figure in the world of cryptocurrencies, is facing an uncertain time, with an upcoming sentencing at the end of April after pleading guilty to a federal crime charge. Despite this backdrop, he emerges back into the media spotlight with the announcement of an innovative project, promising that there would be no new tokens.
A media comeback for CZ after his plea
Since his plea agreement in November 2023, CZ has been quiet on social media. However, on March 18, he breaks the silence to announce a project focused on education, related to blockchain technology or cryptocurrencies, without involving any new tokens.
CZ’s resignation as CEO of Binance, one of the world’s largest cryptocurrency exchange platforms, is part of an agreement with US authorities.
This agreement includes a $4.3 billion payment from Binance to settle disputes and CZ pleading guilty for failing to implement an effective anti-money laundering program. CZ, on bail with an obligation of $175 million, awaits his sentence while hoping to visit his family in the United Arab Emirates.
CZ’s announcement has sparked speculation among his followers, although the details of the project remain vague. Meanwhile, Binance and its US subsidiary remain under scrutiny by the SEC, following a complaint filed in June 2023, indicating tough times ahead for the company.
