Binance Founder CZ Receives Warm Welcome in Dubai Following Prison Release
Changpeng Zhao, the founder of Binance, made headlines with his first public appearance in Dubai after completing a prison sentence related to regulatory violations.
Binance Founder CZ Receives Warm Welcome in Dubai Following Prison Release
DUBAI — Binance founder and former CEO Changpeng Zhao was welcomed by a standing-room-only crowd during his return to crypto after being released from U.S. prison.
Attendees packed into Binance Blockchain Week to hear from Zhao, often referred to as "CZ," in his first public appearance since his release last month. He served four months for violating the Bank Secrecy Act, linked to his time managing the exchange.
Zhao took the stage amidst cheers as the venue became filled well before his scheduled appearance, with attendees eager to film his entrance.
Austin Arnold, the session's moderator, opened the discussion by humorously asking Zhao about his prison experience, leading to laughter among the audience. Zhao answered seriously, explaining, "It's not good. It's less fun than now [at the Binance event]." He described prison as incredibly limiting, sparking deep reflection.
The crypto executive expressed no immediate intentions to lead another crypto exchange. He emphasized the unique situation—being the first individual sent to prison for a Bank Secrecy Act violation, especially in light of TD Bank's recent settlement without any personal admissions of guilt.
Zhao remarked on timing, noting, "What the hell happened?" as he missed significant events while incarcerated, including discussions on crypto by both former President Donald Trump and current Vice President Kamala Harris.
Looking ahead, Zhao revealed his commitment to an educational platform named Giggle Academy, created to support those lacking educational resources. He highlighted alarming statistics: approximately 700-800 million adults are illiterate today, and two-thirds of these are women.
Zhao also plans investments in areas such as artificial intelligence and biotech, alongside his educational endeavors.
Blockchain Week
Current Binance CEO Richard Teng highlighted the theme of "momentum" during the conference's opening remarks, citing achievements like the approval of spot bitcoin ETFs in the U.S. as a sign of progress within the crypto industry.
Approximately 4,000 people attended the event, with another 1 million streaming it online.
