Changpeng Zhao, Former CEO of Binance, Declares Intent to Maintain Crypto Holdings Passively Following Prison Sentence
Despite his recent prison sentence for US law violations, Changpeng Zhao, the founder and former CEO of Binance, remains committed to investing in cryptocurrency. In a statement on social media platform X, Zhao expressed his gratitude for the support he has received and outlined his plans for the future. He intends to serve his time, move on from this phase, and focus on his education in the next chapter of his life. Zhao also emphasized his continued belief in the crypto industry, stating that he will remain a passive investor and holder of crypto assets. He acknowledged the importance of compliance in the industry and highlighted the scrutiny that Binance has faced. He also assured his followers that their funds are safe. In November, Zhao stepped down as CEO after pleading guilty to breaking US anti-money laundering laws. His lawyers requested probation, while prosecutors sought a three-year prison sentence. Ultimately, Zhao was sentenced to four months in prison by U.S. District Judge Richard Jones, who criticized him for failing to comply with regulations despite having the means to do so. Despite these challenges, Zhao remains optimistic about the future of crypto.