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This Is What Binance’s CZ Will Do After His Prison Release

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Binance founder and former CEO Changpeng Zhao (CZ) exited prison on Friday, two days before the official release date.

The popular crypto executive has not wasted any time sharing what he will be doing post-release, and it does not involve Binance or anything close.

Binance’s CZ Shares Post-Release Plans

Changpeng Zhao began his post by expressing gratitude for the freedom to make personal choices, such as selecting his own meals and enjoying as many fruits as he desires each day. He reflected on his past experiences, acknowledging the lessons learned and looking forward to future opportunities. In light of his release from jail, CZ also shared his plans for what he will be doing next.

First, CZ commits to furthering his education initiative, Giggle Academy. The Binance executive had aggressively promoted the initiative before his arrest. The Binance founder also said he would dedicate time and funding to charity, which aligns with his philanthropic work at Giggle Academy, which offers free education.

As of March 30, the project comprised a team of 10 members, some part-time, while others serving full-time but working remotely. Notably, one of Giggle Academy’s objectives is to teach kids how to avoid rug pulls.

Read more: Who Is Changpeng Zhao? A Deep Dive Into the Ex-CEO of Binance

Zhao also revealed his plans to finish writing his book and attend crypto-related conferences. While he may no longer be directly involved in Binance activities, CZ will remain active in the blockchain space. He highlighted that as a long-term investor, his priority is making a positive impact rather than focusing solely on financial returns.

Further, he observed that Binance was doing well in his absence. Notably, Changpeng Zhao faces a lifetime ban from serving as Binance CEO as part of his plea deal. Nevertheless, he maintains executive rights at the company as its majority shareholder.

These developments suggest CZ does not see himself as a CEO driving a startup again. They also demonstrate contentment with being a one-time entrepreneur and a possible mentor. 

With these, crypto markets can expect to see CZ around, or rather, hear from him, with his X (formerly Twitter) already active two days after release. Based on responses to his social media posts, CZ remains a people-favorite despite the circumstances that led to his arrest.

How Changpeng Zhao Got Here

As BeInCrypto reported, CZ is the wealthiest person ever to serve jail time in the US and the 25th richest man in the world, with a personal fortune of nearly $60 billion. Amid Changpeng Zhao’s post-prison updates, this rear-view mirror shows how the crypto executive made it to jail.

US Department of Justice Investigates Binance

The US Department of Justice (DOJ) started investigating Binance in February 2018, probing the exchange’s compliance with Anti-Money Laundering (AML) laws and sanctions. Specifically, prosecutors were exploring charges of unlicensed money transmission, money laundering conspiracy, and criminal sanctions violations.

In August 2023, the DOJ considered fraud charges against Binance. However, the authorities expressed concern about the possibility of a bank run and wanted to spare consumers the trouble. To avoid harming customers, they considered alternatives to criminal charges, including fines or non-prosecution agreements.

Charges That Sent Changpeng Zhao To Jail

The US DOJ levied criminal charges related to CZ in November 2023. Among them, were violating US Anti-Money Laundering (AML) laws, unlicensed money transmitting, and sanctions violations.

He pled guilty the same month, capitulating to the DOJ and resigning as Binance CEO while introducing Richard Teng as successor. He admitted to making mistakes, saying he would take responsibility, a move intended to be for the sole benefit of the community, Binance, and for himself. Noteworthy, Teng ascended to Binance CEO after serving as Global Head of Regional Markets.

This guilty plea saw him released from custody on a $175 million bond. At this point, he was facing up to 18 months in prison as part of his plea deal with the US Government. 

In addition, CZ and Binance were charged with one of the largest criminal penalties in US history. The exchange paid a $4.3 billion fine while Zhao paid up to $50 million. For CZ, this was a modest amount given his estimated net worth.

Ripple Chief Legal Executive Stuart Alderoty supported the US DOJ’s decision on Binance, saying it was necessary to bring crypto into compliance.

CZ Sentenced To Four Months In Prison

Seattle District Court Judge Richard Jones issued the four-month sentence in April 2024, saying, “There needs to be an effort by this court to impose a sentence that’s appropriate and reasonable.” Key highlights in the court session include CZ’s guilty plea and cooperation with authorities.

The DOJ argued that Changpeng Zhao willfully allowed illegal trades on Binance. He also failed to report thousands of suspicious criminal activities, which attracted profits of around $1.6 billion from such transactions.

The Federal sentencing guidelines set a maximum sentence of 18 months but under normal circumstances, the charge would have carried up to 10 years in prison.

Notably, the DOJ was pushing for 36 months sentence. On the other hand, CZ’s defense pursued five months of probation, while sentencing guidelines suggested 12 to 18 months in prison.

However, Judge Jones ruled a lenient four-month sentence. Character references from colleagues and industry leaders played a significant role in this determination. The judge said he had never seen such a large amount of uniformly laudatory testimonials about a defendant.

Impact of Prison on CZ’s Wealth and Binance Stake

The short answer is none! Changpeng Zhao’s personal fortune has not been affected by the case, save for the modest $50 million fine paid in November. He also reserves majority shareholder rights at Binance, which by Forbes estimates, is a 90% stake.

In 2021, Changpeng Zhao said in a Bloomberg interview he does not own any real estate or much capital in fiat currencies. Rather, his crypto holdings made up nearly 100% of his entire net worth. He also revealed that he sold his house in 2013 to buy Bitcoin, which marked the beginning of his crypto journey.

Read more: Binance Review 2024: Is It the Right Crypto Exchange for You?

BNB Price Performance after Changpeng Zhao release from prison
BNB Price Performance, Source: BeInCrypto

Based on Forbes data, CZ owns 64% of the total supply of Binance Coin (BNB) supply. As traders take profits amid the hype surrounding Zhao’s release, BNB has wiped out some of the gains made over the past 24 hours, dropping from $610.20 to trade for $594.71 as of this writing.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.





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Ethereum Price Clings to Support—Upside Break Could Trigger Rally

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Ethereum price started a increase from the $1,550 zone. ETH is now rising and might attempt to recover above the $1,650 resistance.

  • Ethereum started a fresh increase above the $1,580 and $1,600 levels.
  • The price is trading above $1,600 and the 100-hourly Simple Moving Average.
  • There was a break above a connecting bearish trend line with resistance at $1,590 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could start a fresh increase if it clears the $1,650 resistance zone.

Ethereum Price Eyes Upside Break

Ethereum price remained stable above the $1,500 level and started a fresh increase, like Bitcoin. ETH traded above the $1,550 and $1,600 levels to enter a short-term positive zone.

There was a break above a connecting bearish trend line with resistance at $1,590 on the hourly chart of ETH/USD. The pair even cleared the $1,620 resistance. A high was formed at $1,644 and the price is stable above the 23.6% Fib retracement level of the upward move from the $1,566 swing low to the $1,644 high.

Ethereum price is now trading above $1,600 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $1,640 level. The next key resistance is near the $1,650 level. The first major resistance is near the $1,680 level.

Ethereum Price
Source: ETHUSD on TradingView.com

A clear move above the $1,680 resistance might send the price toward the $1,720 resistance. An upside break above the $1,720 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $1,800 resistance zone or even $1,840 in the near term.

Downside Correction In ETH?

If Ethereum fails to clear the $1,650 resistance, it could start a downside correction. Initial support on the downside is near the $1,620 level. The first major support sits near the $1,605 zone and the 50% Fib retracement level of the upward move from the $1,566 swing low to the $1,644 high.

A clear move below the $1,605 support might push the price toward the $1,580 support. Any more losses might send the price toward the $1,550 support level in the near term. The next key support sits at $1,500.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is gaining momentum in the bullish zone.

Hourly RSIThe RSI for ETH/USD is now above the 50 zone.

Major Support Level – $1,600

Major Resistance Level – $1,650



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Will Bittensor Surpass Bitcoin as a Store of Value? Expert Predicts

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Barry Silbert, CEO of Digital Currency Group, has stated that Bittensor (TAO) has the potential to outperform Bitcoin (BTC) as a global store of value.

His comments come amid notable growth in the Bittensor network, with its subnet ecosystem market capitalization and the TAO token’s price on the rise.

Will Bittensor’s Decentralized AI Model Outperform Bitcoin’s Legacy? 

In a recent interview with Raoul Pal, Silbert highlighted the growing influence of artificial intelligence (AI) in the crypto sector. According to him, Bittensor is at the forefront of this revolution, representing the “next big era for crypto.”

“You had the Bitcoin and the Ethereum and the NFTs, and you had the layer 2s and DeFi. I think this is the next big investment theme for crypto,” Silbert stated.

He went on to explain that Bittensor shares the same pioneering spirit as early Bitcoin. Still, its purpose extends beyond financial sovereignty.

“The boldest prediction that I could make for Bittensor is it could be a better version of Bitcoin as a global store of value,” he claimed.

He argued that instead of the $10 to $12 billion spent annually to secure the Bitcoin network, that same amount could be redirected toward incentivizing a global network of individuals working to solve major world problems. He envisions this money fostering innovation on a massive scale, with the potential to grow into a multi-billion-dollar ecosystem. 

While acknowledging the value of securing the Bitcoin network, Silbert emphasized that Bittensor’s potential lies in its ability to harness this vast financial backing to address real-world challenges

He noted that Bittensor operates on a similar economic model to Bitcoin, with halving mechanisms and decentralization, positioning it as a powerful contender in the quest for a more impactful and value-driven global network.

Silbert also noted that while plenty of decentralized AI projects have emerged, Bittensor has set itself apart. He referred to it as having reached “escape velocity.” This term is used to convey a project’s rapid growth and increasing market influence.

“99.9% of crypto tokens that are out there have no reason to exist and are worthless,” he added.

Market data reflects the growing enthusiasm for Bittensor. Notably, amid the ongoing volatility, TAO has fared well in comparison to the broader market, rising 32.1% in the last week. At press time, the altcoin was trading at $328, up 7.2% over the past day.

TAO Price Performance
TAO Price Performance. Source: BeInCrypto

Additionally, TAO is currently the top trending cryptocurrency on CoinGecko, underlining its rising popularity among investors. Google Trends data further proves the growing interest in Bittensor. The search volume peaked at 100 at the time of writing. 

Meanwhile, the Bittensor ecosystem is also seeing notable progress. The latest data indicated that the market capitalization of Bittensor’s subnet tokens more than doubled in April 2025. 

Bittensor Subnet Market Cap
Bittensor Subnet Market Cap. Source: Backprop Finance

It increased by 166%, rising from $181 million at the beginning of April to $481 million at press time. As reported by BeInCrypto, this growth follows a tripling of active subnets over the past year. 

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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XRP Bulls Defend $2.00—Is a Fresh Price Surge Loading?

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Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he’s trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush’s journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he’s poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush’s unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.



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