(Bloomberg) — Billionaire Zhao Changpeng, in his first public comments since being released from U.S. custody, says the cryptocurrency mogul will continue to invest in the blockchain space as well as artificial intelligence and biotechnology. I promised.
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In a post on social media platform X over the weekend, the co-founder of digital asset exchange Binance Holdings described himself as a long-term investor who values ”impact, not return.”
Binance was fined $4.3 billion in November under a plea deal that resolved U.S. charges for failures that allowed criminals and terrorist groups to use the exchange. Mr. Zhao agreed to pay a $50 million personal fine and was later sentenced to four months in prison. He was released from a California correctional facility on September 27.
Chao said the new initiative, called Giggle Academy, a nonprofit online education platform, “is going to become a big part of my life.” He said he would devote more time and money to philanthropy.
Binance is the world's largest cryptocurrency exchange and the cornerstone of digital assets and related derivatives trading. Under the plea agreement, Mr. Zhao resigned as chief executive officer and handed over his position to Mr. Richard Teng. The platform also faces years of compliance scrutiny from the Justice Department and the U.S. Treasury Department's Financial Crimes Enforcement Network.
Chao's net worth is more than $30 billion, likely making him the richest prison inmate in U.S. history, according to the Bloomberg Billionaires Index.
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