Changpeng Zhao, the former CEO of Binance, is set to walk free from prison on September 29th. Zhao, who was serving time for violating anti-money laundering laws, has been housed at the Residential Reentry Management (RRM) Long Beach facility in Southern California.
Zhao’s release comes after a tumultuous period for the crypto giant. He stepped down as CEO in November 2022 and was replaced by Richard Teng. Both Zhao and Binance pleaded guilty to the charges and faced potential sentences of up to three years.
Looking Ahead:
Zhao has expressed his intention to focus on education after his release. He also plans to remain a “passive” investor in crypto, highlighting the importance of compliance in the industry.
“I will do my time, conclude this phase and focus on the next chapter of my life (education) … I will remain a passive investor (and holder) in crypto,” Zhao said in a statement.
The future of Binance remains uncertain. The company has been under intense scrutiny from regulators worldwide, and Zhao’s release could potentially signal a new chapter for the crypto exchange.
/p>
