Binance Founder Set to Be Released Today With $60 Billion in His Hands
Changpeng Zhao (CZ), the founder of cryptocurrency exchange Binance, is expected to be released on Friday after serving a four-month prison sentence. Previously, CZ, who is known as the world's richest prisoner with an estimated fortune of $60 billion, was convicted of failing to properly implement anti-money laundering controls at Binance, the world's largest cryptocurrency exchange.
In addition to his family and philanthropy, CZ may return to Binance as the company's largest shareholder. However, under the terms of his criminal agreement, he was forced to step down as CEO of Binance and not be involved in the company's "day-to-day" operations. Current CEO Richard Teng also recently confirmed that CZ is banned from managing operations at Binance.
CZ's return from prison is attracting a lot of attention from the crypto community and investors. Many are curious about the billionaire's next move, as well as the possible impact on Binance and the crypto market in general. However, with his huge fortune and experience in the industry, CZ is still expected to continue to have a significant influence in the financial technology sector in the future.