Crypto billionaire Changpeng Zhao (CZ) posted on X hours after being sentenced to four months in prison to thank his supporters and share about life after his release:
“I will take my time, finish this period and focus on the next chapter of my life. I will remain a cryptocurrency investor (and holder). Our industry is entering a new phase.”
He noted that education will be his focus after his release from prison — most likely through Giggle Academy, which he announced in March while awaiting his court date.
Zhao introduced the project through a concept paper proposing “to make basic education accessible, engaging, and adaptable to children who do not have free access today, all over the world.” ”. Just a week ago, he revealed a brightly colored smiley face logo for the Academy.
“I want to thank everyone for their interest and support through letters, posts on X or in any other form. They all mean a lot to me and helped me stay strong through the darkest time of my life."
He also praised his former company:
“The good thing about this whole process is that Binance is closely monitored and the funds are SAFU. Compliance is extremely important… Protect users!”.
Zhao pleaded guilty to federal money laundering charges last year, which focused on a corporate culture at Binance that federal prosecutors said sidelined fraud prevention to promote growth. He was forced to leave the company and pay a fine of $50 million.
The U.S. Department of Justice said Zhao was subject to aggravated sentencing guidelines due to the severity of the violation and recommended that the judge impose a sentence of three years in prison. Tuesday's sentencing began with a debate over the appropriate sentence, as prosecutors wanted to use the case as a "deterrent" to future bad guys.
U.S. District Judge Richard Jones disagreed and instead followed the recommendation of the federal probation office. Zhao will receive credit for time served and the four-year sentence could include at least 10 months in prison and the remainder on supervised release.
Meaning of number 4
The four-month prison sentence seems to accurately reflect Zhao's trademark number "4".
On January 2, 2023, Changpeng Zhao tweeted a series of New Year's resolutions, one of which is to ignore all FUD (the first three letters of Fear, Uncertainty and Doubt). doubts), fake news and attacks on Binance.
After a tumultuous year in the cryptocurrency market, CZ wrote a post on X on the second day of the year explaining that he will try to keep 2023 simple and spend more time on numbers. less work. After listing three “shoulds,” including education, compliance, products, and services, he added number four as a “don't,” which is “Don't pay attention to FUD , fake news, attacks, etc.”
CZ ended the tweet by asking his followers to think of this tweet every time he tweets “4” in the future.
Zhao also frequently tweets about the number “4,” sometimes accompanied by a photo of himself with his hand posing as the number 4. This frequent mention of the number “4” symbolizes CZ's commitment to focusing on growth and innovation, without being distracted by external gossip or obstacles.
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