Changpeng Zhao, also known as CZ, the founder and former CEO of Binance, has been released after serving 4 months in prison on charges of platform misconduct related to money laundering and criminal activities.
As a result of this verdict, CZ has agreed to step down as the manager of Binance going forward. However, he still holds approximately 90% of the shares in Binance and remains one of the wealthiest individuals in the world, with assets currently estimated at around $61 billion.
Prior to his incarceration, CZ founded the Giggle Academy education platform, where he is now expected to work full-time.
Source: TechCrunch
TLDR: CZ, founder of Binance, released from prison, steps down as CEO, remains majority shareholder, valued at $61 billion, now working at Giggle Academy.
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