Richard Parks Changpeng Zhao (CZ), former CEO of Binance, opened up about his recent experiences and plans for the future during the Binance Blockchain Week conference. In an interview on the Wu Blockchain podcast, CZ spoke about his prison term, resulting from a plea deal with U.S. authorities last November. He described missing human connection as one of the hardest aspects of incarceration.
Zhao also remarked on his Banking Secrecy Act violation, pointing out that he was the first to receive a prison sentence for a single offense. He compared his case to recent corporate fines, such as TD Bank’s $1.8 billion penalty, which involved no personal charges.
Clarifying his current position with Binance, CZ emphasized that he is no longer involved in operations, though he remains a significant shareholder. Dismissing rumors of a “lifetime ban” from managing crypto exchanges, he stated, “My plea agreement does not contain those words.”
Zhao shared his excitement for Giggle Academy, his nonprofit education project. Designed to reach 1.2 billion underserved people, the platform aims to provide game-based, AI-driven learning resources via mobile devices. He estimated development costs at $1–2 billion, emphasizing that the project’s goal is social impact, not profit.
Looking at crypto’s future, CZ expressed optimism for long-term growth while noting the sector’s short-term volatility. He pointed to Bitcoin’s historical four-year cycles and said regulatory advancements are promising, though larger nations may continue implementing changes at a slower pace.