According to the news, "former richest Chinese" Changpeng Zhao is about to be released from prison. According to the official website of the U.S. Federal Bureau of Prisons, Changpeng Zhao is currently in the Reintegration Administration in Long Beach, California, undergoing preparation and assessment before his release, and is expected to return to society on September 29. Changpeng Zhao was born in Lianyungang, Jiangsu Province. He is a Chinese-Canadian entrepreneur. In 2017, he founded Binance, which quickly developed into a global cryptocurrency exchange. At the end of 2021, he became the richest Chinese with a net worth of US$94.1 billion. As of April 2024, he still has a wealth of more than US$30 billion.
CryptoQuant CEO: CZ deserves respect
Ki Young Ju, CEO of CryptoQuant, wrote on the X platform that CZ should not be underestimated and he deserves respect. When the intrinsic value of an industry is lower than the capital absorbed, society often regards it as a "sin" and labels those who create or participate in the industry as sinners. This is exactly the case with the crypto industry. Although many people have made mistakes, CZ has made up for these "sins" for the industry.
On September 29, Binance co-founder and former CEO CZ will end his four-month detention. Although he made mistakes, this reflects the growing pains of the industry. CZ's merits as a businessman outweigh his faults. Without Binance, the crypto industry would not attract so much global liquidity. He deserves a new evaluation.
Is the community ready to celebrate?
Although people like Ari Paul, founder of BlockTower Capital, believe that CZ's crimes are similar to SBF's, CZ's responsibility has earned him a chance to be reborn. CZ previously founded Giggle Academy, which provides free online courses and plans to fund small research laboratories to use blockchain technology to improve global medical care, education and the lives of vulnerable groups.
BNB rebounded from its lows when CZ pleaded guilty and reached a settlement, and even hit a record high of $721 after he was imprisoned, showing that the price of BNB has little to do with CZ. Although CZ is no longer involved in Binance affairs, he is still a spiritual leader in the hearts of many people, and his interaction with the community after his release from prison will continue to attract attention.
That’s all for today’s article. We are currently in a bull market, and things are turbulent. We share passwords every day.
