Zhao Changpeng is about to become a free agent, the community cheers: Bull market is coming

Former Binance CEO Changpeng Zhao (CZ) has transferred to Long Beach and is expected to end his four-month sentence by the end of September and be officially released. Many in the community cheered, indicating that the bull market is on the horizon. CZ, who has been forced to stay in the United States since November last year and unable to reunite with his wife and children, is now counting down to his freedom!

CZ's Four-Month Sentence Nearing End

In November last year, former Binance CEO Changpeng Zhao (CZ) reached an agreement with the U.S. government, concluding the investigation into the world's largest cryptocurrency exchange. As part of the settlement, CZ stepped down as CEO, and Binance paid a hefty fine of $4.3 billion. Following allegations of money laundering on his cryptocurrency exchange, CZ was sentenced to four months in April, much lower than the prosecutor's recommended three years.

According to a report by Decrypt, CZ has been transferred this week from a prison in Southern California to Long Beach's RRM, commonly known as a halfway house, to prepare for his release as his sentence nears its end. The U.S. Bureau of Prisons stated that CZ will be officially released on September 29th. This indicates that CZ is still under U.S. government supervision and not yet free to move about.

CZ to Embark on a New Chapter in Life

Prior to his sentencing, Changpeng Zhao faced travel restrictions for several months. In March, he decided to establish Giggle Academy, offering free online courses for students in grades 1-12, which he described as the most impactful thing he could do to start a new chapter in his life.

Subsequently, Zhao publicly issued an apology letter, stating that he will take full responsibility,

"Because I want to resolve this issue in court and then start over. I want to correct the mistakes, turn the page, and start the next chapter of my life."

In the letter, CZ mentioned his plans to fund small research labs and utilize blockchain technology to provide medical services to billions of people worldwide. He also expressed his commitment to continue dedicating time and effort to help young people improve their education and the lives of disadvantaged youth.

Full text of Changpeng Zhao's apology letter: Taking full responsibility, proud to spend the rest of my life

CZ Expected to Reunite with Wife and Children in Dubai by the End of September

It is estimated that by the end of September, CZ will regain his freedom of movement and may reunite with his wife and two children in Dubai. Since November, he has been forced to stay in the United States.

In a recent interview, Binance CEO Richard Teng mentioned that after CZ's departure, his partner He Yi continues to play a crucial management role within Binance.

Interview with Binance CEO Richard Teng: No plans for an IPO, focus is no longer on the United States