Billionaire Changpeng Zhao, the co-founder of the Binance digital asset exchange, has announced his intention to invest further in the blockchain sector, as well as in artificial intelligence and biotechnology. This declaration marks his first public statement since being released from US custody.

Zhao’s Experience in US Custody

In November, Binance faced significant legal issues, culminating in a $4.3 billion penalty under a plea deal for allowing criminal activities through its platform. As part of this deal, Zhao personally paid a $50 million fine and served four months in a California correctional facility. He was released on September 27.

A Focus on Education and Charity

In his recent social media post, Zhao emphasized his new initiative, Giggle Academy, a nonprofit online education platform he plans to dedicate substantial time and resources to. He expressed a desire to focus on making a positive impact rather than solely pursuing financial returns, indicating a shift toward philanthropy and educational efforts.

As a result of the legal settlement, Zhao stepped down as CEO of Binance, transferring leadership to Richard Teng. The exchange is now under strict compliance monitoring by US authorities, including the Justice Department and the Financial Crimes Enforcement Network, for the foreseeable future.

A Remarkable Comeback

Despite the challenges he faced, Zhao remains a prominent figure in the crypto industry, with a net worth exceeding $30 billion, positioning him as one of the wealthiest individuals in the world, even after his recent legal troubles. His commitment to technology and charitable initiatives suggests a new chapter in his career, focusing on positive contributions to society and the tech landscape.