After the four-month sentence of Zhao Changpeng was announced, He Yi only replied with two words on social media, “Got it.” Perhaps, everyone understands.
(Summary:
Zhao Changpeng CZ: Thank you all for your concern and support. After serving my sentence, I will focus on the next chapter of my life.)
(Background:
Good news! Binance’s Zhao Changpeng sentenced to “only four months of imprisonment,” what did CZ say in court?)
Table of Contents
Why did Zhao Changpeng receive such a low sentence?
Has Zhao Changpeng already started planning for his release?
How did the market react after Zhao Changpeng’s four-month sentence?
On April 30th, local time, the Western District Court of Washington, D.C., held a hearing where Judge Richard Jones announced a four-month imprisonment sentence for former Binance CEO Zhao Changpeng. With this, the highly anticipated case of Zhao Changpeng in the cryptocurrency industry finally came to a close.
Several foreign media outlets reported that Zhao Changpeng will be the richest prisoner in U.S. and global history. Reports cited Forbes data, stating that Zhao Changpeng’s personal total assets are approximately $33 billion (about 239 billion RMB), ranking him 50th on the Forbes Global Billionaires List for 2024. His imprisonment means he will become the richest prisoner in the world.
In fact, Zhao Changpeng is very different from FTX founder SBF because Binance and its founder Zhao Changpeng did not embezzle customer funds.
Furthermore, compared to SBF, who did not surrender to the court and chose to undergo a foolish defense trial, Zhao Changpeng reached a plea agreement early on, agreeing to pay a fine of up to $4.3 billion and expressing remorse.
During the 2.5-hour sentencing hearing, the 47-year-old billionaire Zhao Changpeng was no longer an ordinary criminal defendant but a philanthropist, a doer of good, a first-time offender, and a family man. He surrendered himself and accepted everything that could happen.
Zhao Changpeng’s “good reputation” influenced the judge’s final judgment. Compared to the U.S. Department of Justice’s strong recommendation for a three-year sentence for Zhao Changpeng, the judge ultimately gave an extremely light sentence of four months.
Judge Richard Jones stated that he read all 161 submitted letters, as it was important to understand who Zhao Changpeng is. He also mentioned that he had never seen so many letters before, not only from family members but also from people who have known Zhao Changpeng for a long time.
Richard Jones pointed out that these letters portrayed a person driven by motivation, passion, and determination. Zhao Changpeng risked all of his net assets just to make Binance successful. The letters clearly showed that Zhao Changpeng is devoted to his family and cited examples of Binance’s charitable work.
For Zhao Changpeng, the four-month imprisonment is perhaps just a minor episode in his life story because even before the verdict was announced, he had already begun establishing a network of contacts across the United States to plan his next move.
After admitting to money laundering in November 2023, Zhao Changpeng did not sit idly by. Although he cannot return to Dubai in the United Arab Emirates, he can still freely travel within the United States. This allows him ample time to travel around the country, establish connections with local entrepreneurs, and lay the foundation for his next steps.
According to disclosed information, Zhao Changpeng had a casual dinner with a former U.S. senator in Montana, visited the town of Telluride, Colorado, and a vacation resort in Utah. More importantly, Zhao Changpeng also had a meeting with OpenAI CEO Sam Altman.
Last month, Zhao Changpeng announced the launch of a new project to promote online education. He also expressed interest in investing in artificial intelligence and biotechnology. Two insiders revealed that Zhao Changpeng exchanged contact information with Sam Altman as early as the end of last year and discussed adjustments when expanding startups globally.
Insiders disclosed that Zhao Changpeng had a meeting with Sam Altman about a year ago and had further contact during the leadership dispute at OpenAI in November 2023.
A month later, in December 2023, Zhao Changpeng had hot pot with Columbia University computer science professor and CertiK co-founder Gu Ronghui in Los Angeles. Gu Ronghui confirmed in an interview that Zhao Changpeng had already communicated with Sam Altman. Both believe that artificial intelligence is of great help in the development of technology and human knowledge (CertiK is a Web3 security company funded by Binance). Zhao Changpeng even revealed that he is currently “seeking opportunities” to invest in large-scale data centers supporting AI applications.
As of now, Zhao Changpeng and representatives from OpenAI refuse to comment on their meeting with Sam Altman.
On the other hand, Zhao Changpeng revealed in a letter submitted to the court that he has recently been in talks with some biotechnology startups and plans to make disease prevention the focus of his next chapter in life. Zhao Changpeng stated, “I want to help fund small research labs with the aim of eradicating diseases once and for all, and use blockchain technology to provide medical services to billions of people worldwide.”
In March of this year, Zhao Changpeng announced on the X platform that he is launching a project called Giggle Academy, a free online learning platform for children. The Giggle Academy website has already released a seven-page “concept document” stating that the platform will involve artificial intelligence, automation, and NFT digital collectibles. It is known that Giggle Academy is not for profit, and Zhao Changpeng is recruiting a small team to work directly with him. This means that once Zhao Changpeng is released, he is likely to be involved in this work and may even realize it within a year.
During Zhao Changpeng’s hearing, BNB experienced an increase and is currently maintaining at around $580. In the past 24 hours, the decline has narrowed to 2.8%.
Zhao Changpeng’s wife, He Yi, replied with only two words on social media, “Got it.” Perhaps, everyone understands.
After Binance CEO CZ was sentenced to four months in prison, he responded to the concerns of the cryptocurrency community on the X platform. Some community users believe that CZ is the person who has contributed the most to the cryptocurrency world since Satoshi Nakamoto. While Satoshi Nakamoto created Bitcoin, CZ is the person who brought Bitcoin to the world.
In response, CZ stated, “I myself am not that important, but I do try to make positive contributions to Bitcoin.”
Furthermore, he expressed gratitude for the care and support given by everyone, whether it be through letters, support on the X platform, or other forms. These have inspired and strengthened him. CZ also stated that he will continue to be a passive investor (and holder) of cryptocurrencies. Our industry has entered a new stage where compliance is crucial. CZ also mentioned that the one hope throughout the entire process was for Binance to always be under a microscope and for the funds to be SAFU (i.e., secure). Finally, he emphasized the importance of protecting users.
Related Reports
Binance CZ “Sentenced to Only Four Months of Probation”! Immediately adjourned and left the court with defense lawyers
CZ can buy the prison! Bloomberg: If imprisoned, he will become the richest prisoner in U.S. history, with a net worth of at least $43 billion
CZ’s sentence a big bet? Polymarket: 44% optimistic that Zhao Changpeng will be “imprisoned for less than six months”