Changpeng Zhao, the founder of Binance, recently took center stage at the Binance Blockchain Week 2024 event held in Dubai. This marks his first public appearance following a four-month prison sentence. During the event, Zhao wore a shirt featuring the logo of Giggle Academy, a learning platform he recently established, which operates on a “learn-to-earn” model that incentivizes users to earn money through educational activities. He shared personal anecdotes from his time in prison and offered insights into the future of the cryptocurrency industry.
Zhao described his prison experience as challenging but ultimately transformative. He reflected, “Freedom was taken away; there was nothing left to do but brood. I missed my family, friends, and basic comforts, but I emerged with a new mindset and clearer priorities.” He also noted that he strengthened his relationships during this period, although he refrained from discussing specific cryptocurrencies when asked by others.
Regarding his sentence, Zhao stated that he is limited by an agreement with authorities from disclosing details. He emphasized, “I have served my sentence, and now we can move forward,” suggesting a new chapter for Binance following his resignation as CEO. He clarified that while he cannot hold executive roles, claims of a permanent ban on managing future cryptocurrency projects are unfounded. Zhao plans to continue investing in emerging fields such as artificial intelligence, blockchain technology, biotechnology, and education.
During the Binance Blockchain Week 2024, Yi He, co-founder of Binance, remarked that the company has evolved beyond being merely the largest cryptocurrency exchange; it is now an integral part of the global financial landscape. The leadership acknowledged the challenges that come with adapting to diverse regulatory requirements across different countries. He noted, “Local users often wonder if we are still part of the community after our regulatory engagements.” However, she stressed that cooperation with regulators is essential for the widespread acceptance and use of blockchain and cryptocurrencies, stating, “To reach a billion crypto users, we must work with regulators.”
Zhao expressed optimism regarding the future of cryptocurrency regulations on a global scale, recognizing that while major economies like the US are taking their time to establish legal frameworks, positive changes are underway. He pointed to recent political developments, including Donald Trump’s support for cryptocurrencies and the bipartisan backing for digital assets, as indicators of a growing public interest in this sector.
While Zhao acknowledged the complexities and uncertainties surrounding the short-term future of the cryptocurrency market, he remains hopeful about its long-term potential. His remarks come at a critical juncture, as the US presidential election is set to influence the future landscape of global cryptocurrency, particularly with differing stances on the issue from candidates Donald Trump and Kamala Harris.