Bitcoin Founder CZ Officially Released from Prison: Predictions on Next Steps and BNB Surges Past $600
Bitcoin founder Zhao Changpeng, also known as CZ, has been officially released from prison! According to Bloomberg, Scott Taylor, a spokesperson for the U.S. Bureau of Prisons, confirmed that Zhao Changpeng has been released from a halfway house in Long Beach, California. BNB has surged back to $600, briefly touching $614.7.
CZ’s Release and Future Endeavors
After serving a four-month sentence in the United States, CZ was set to be released on the 29th, but with the weekend approaching, he is likely to be released early on Friday (the 27th). Earlier today, Bloomberg reported that spokesperson Scott Taylor confirmed Zhao Changpeng’s release from a halfway house in Long Beach, California.
Last November, following settlements with the U.S. Department of Justice, the Commodity Futures Trading Commission (CFTC), and other entities, and agreeing to pay a $4.3 billion fine, CZ admitted to violating U.S. anti-money laundering laws and stepped down as CEO of Bitcoin. He also paid a $175 million fine. In May of this year, a Seattle court sentenced Zhao Changpeng to four months in prison, later transferring him to a reentry management facility in Long Beach, California. His release was scheduled for September 29th and has now been officially completed.
Post-Release Plans and Potential Ventures
It is speculated by Fortune magazine that after his release, Zhao Changpeng may fly to Dubai or Paris on a private jet to reunite with his children and mother to make up for lost time. Furthermore, CZ may continue to promote his charitable education initiatives, such as the Giggle Academy educational program for underprivileged children. Despite limited information available regarding the program’s timeline, funding sources, and scope, more details are expected to emerge in the coming months as CZ re-enters public life.
Prior to his imprisonment, Zhao Changpeng expressed his willingness to coach or mentor emerging entrepreneurs. Apart from focusing on family and charity, with a net worth of $60 billion, CZ may also shift his attention back to the cryptocurrency industry, despite stepping down as CEO of Bitcoin as part of the settlement terms. His influence on the company’s future remains significant, especially as Bitcoin has shifted operations to Asian and offshore markets. At just 47 years old, Zhao Changpeng is expected to continue playing a prominent role in the cryptocurrency and business spheres in the coming years.
Market Response and BNB Performance
As CZ’s release approaches, market watchers are closely monitoring whether it will drive up related cryptocurrencies in the Bitcoin and BNB ecosystem. According to CoinGecko data, BNB briefly hit $614.7 and is currently trading at $607.4, up 1.4% in the last 24 hours and 6.8% in the last 7 days. These price movements indicate that the positive news of Zhao Changpeng’s release may already be factored into the price.
While CZ has been banned for life from holding a leadership position at Bitcoin, he retains his rights as a major shareholder. CZ’s potential pursuits post-release, BNB’s surge, and the possibilities that lie ahead showcase the ongoing impact of Zhao Changpeng on the cryptocurrency landscape.
