- During Incarceration, Zhao Educated Inmates on Cryptocurrencies, Gaining Nickname “The Bitcoin Guy” for His Knowledge and Advice.
- Post-Prison, Zhao Chooses a Quieter Life, Observing Binance’s Progress as a Passive Investor, Detached from Daily Operations.
Changpeng Zhao, the founder and former CEO of Binance, emphasized in a Bloomberg interview that comparisons to Sam Bankman-Fried, the founder of FTX who is currently serving a 25-year prison sentence for embezzlement, are both inaccurate and offensive.
Zhao, who faced legal issues not related to theft but due to regulatory non-compliance, clarified that likening his situation to Bankman-Fried’s is akin to comparing a regulatory oversight to outright theft.
Zhao distanced himself from the turmoil surrounding Bankman-Fried, focusing instead on his life post-incarceration. During his four-month stint in prison, Zhao engaged in physical training, worked on a forthcoming book, and fostered positive relationships by educating fellow inmates about cryptocurrencies, earning him the nickname “the Bitcoin guy.”
He shared insights on investments with inmates and even prison guards who sought his advice on which coins to consider.
Since his release, Zhao has been living a quieter life, observing Binance’s progression from a distance as a passive investor. Occasionally, he is consulted for his perspective on strategic decisions, but he remains mostly detached from day-to-day operations.
He mentioned that his emotional bond with Binance persists, likening it to a parent’s connection with a grown child who no longer needs constant guidance but still holds a special place in the parent’s heart.
Zhao’s experience in prison not only shaped his personal growth but also allowed him to influence others positively within the confines of the correctional facility. His story underscores a significant shift from active leadership to a more reflective role, emphasizing personal peace and strategic distance from the current cryptocurrency market.
Binance Coin (BNB) is currently trading at $599.69, with a daily increase of 1.26%. Over the past week, it has seen a modest gain of 0.76%, and it’s up 6.31% over the past month, showing steady growth.
The 24-hour trading volume is 361.53K BNB, indicating strong interest. Key resistance stands around the $600 psychological level, which BNB is currently testing, while immediate support is found near $580.
Technical indicators suggest continued bullish momentum if BNB can hold above $600. However, a failure to sustain this level may prompt a pullback towards support.
