Binance cofounder and former CEO Changpeng Zhao (CZ) has declared he has no desire to return to the cryptocurrency exchange he established
Binance cofounder and former CEO Changpeng Zhao (CZ) has no plans to return to the cryptocurrency exchange he established, following a four-month prison term in the U.S.
Speaking at Binance Blockchain Week on Thursday in a public appearance since his release, Zhao addressed his sentencing and future intentions.
"I think in the judge's mind, he treated me very leniently," CZ said.
“It’s a very subjective opinion, I try not to think about it. I think everyone here will have their own opinions, but I just want to move on,” he added.
CZ reached a plea deal with the U.S. Department of Justice (DOJ) after Binance was accused of insufficient anti-money laundering (AML) controls. As part of the agreement, he admitted to compliance lapses at Binance, paid a significant penalty, and accepted a ban on executive roles at the company. The deal resulted in a four-month prison term, after which CZ was released in September. Although he remains Binance’s largest shareholder, he is barred from returning to management and has expressed no interest in resuming his CEO role. Instead, he is focusing on projects in blockchain, AI, biotech, and launching the educational platform Giggle Academy.
Zhao reiterated that he will not consider returning to Binance leadership, despite still being its largest shareholder. He is now focused on other ventures and said, "I don’t have any need to go back. I don’t have any wish to go back."
Although no longer in an executive role, Zhao mentioned that he retains a positive connection with Binance and can still access company information if needed. “The relationship is actually a pretty good one, given that now there’s a bunch of other guys working really hard and I’m forced to retire,” he said.
Zhao is turning his attention to new projects, including an educational initiative called Giggle Academy, and investments in blockchain, artificial intelligence, and biotech. Reflecting on his time in prison, Zhao said, “It’s not good,” emphasizing that it is “very limiting in a lot of ways.” However, he found camaraderie, sharing: “To be honest, I think there are very nice people in prison. People are very chill. I think a decent portion of them had no reason to be there.” He added: “I met a few friends who I still keep in touch with. I’m trying to help a few of them to fight their case through legal means, hopefully to get them out earlier.”
