Binance founder Changpeng Zhao, known as CZ within the crypto community, is reportedly set to walk free today following a four-month sentence in the US. He was scheduled to be released two days later; however, the timing was adjusted because the original date fell on a weekend.
Zhao's sentence was divided between two months in a low-security prison and the remainder at a halfway house in Long Beach, California.
His conviction stemmed from accusations that he did not maintain an effective anti-money laundering (AML) program at the crypto exchange.
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Although CZ has yet to make any public statements, his legal team has hinted that his immediate focus will be on his family—his children and former partner He Yi, who remains a key figure at Binance.
Before his sentence, CZ had expressed interest in charitable work. In April, he announced the Giggle Academy project, an initiative designed to provide free educational tools for children worldwide. However, little progress has been reported, and updates have been scarce during his time away.
Even though Zhao has stepped down as CEO of Binance and has agreed to limit his involvement in daily operations as part of a settlement with US authorities, he still wields influence in the company due to his majority ownership stake.
The buzz around CZ's return has coincided with a surge in BNB's price, which climbed by 1.9% over the past day and 5.3% over the past week, trading at $601.18 as of writing.
Thus, CZ's influence in crypto is still significant, with the market’s reaction to his release serving as proof.
