CZ Discusses Forming Friendships Behind Bars in Recent Interview
Changpeng ‘CZ’ Zhao, the former CEO of Binance, recently gave his first public interview since his release from prison, where he shared his experiences and thoughts on the future of cryptocurrency.
Speaking at Binance Blockchain Week in Dubai on Oct. 31, Zhao reflected on his four-month stint behind bars, highlighting that the thing he missed the most during his time there was human connection. He mentioned that he formed friendships with some of the inmates he met, describing them as “super nice guys” and acknowledging that some were unjustly incarcerated.
Despite the disparity in their sentences – with many inmates facing years behind bars while Zhao’s own sentence was just a few months – he refrained from passing judgment on the fairness of his punishment. He noted that he was the first person to be jailed for violating the Banking Secrecy Act, contrasting it with the leniency shown towards other financial entities like TD Bank, which only received a fine of $1.8 billion for similar violations.
Zhao revealed that he has stepped down as Binance CEO and is now restricted from participating in operational decisions. However, he emphasized that he remains a significant shareholder in the company.
Looking ahead, Zhao expressed his disinterest in taking on leadership roles in any new projects or companies. Instead, he plans to focus on expanding his knowledge in emerging technologies like artificial intelligence and offering guidance to aspiring entrepreneurs. He also intends to continue investing in blockchain, AI, and biotech projects, as well as nurturing his educational initiative, Giggle Academy.
When asked about the future of cryptocurrency, Zhao maintained a positive outlook, describing himself as “very, very bullish” in the long term. He predicted a “recovery year” in 2024 based on historical industry cycles, and remained optimistic about the prospects for crypto in 2025.
In conclusion, Zhao expressed his commitment to supporting the growth and development of the industry, while also offering his resources and expertise to those looking to innovate and create new ventures.
