Changpeng Zhao’s Future Plans

On the second day of Binance Blockchain Week Dubai 2024, former CEO Changpeng Zhao (CZ) made statements about the punishment he received in the USA and the future of his relationship with Binance. Last year, the US government fined Binance $4.3 billion for violating anti-money laundering and sanctions laws, recording this fine as one of the country’s largest sanctions. During this period, Zhao resigned as CEO and agreed to pay a fine of $50 million.

Zhao, who started the panel by explaining his relationship with Binance, stated that he was prohibited from taking an active role in operations, that he would not return to the CEO position and that he did not have the authority to give orders. However, he stated that he would retain his right to request information as a shareholder of the company.

Zhao stated that he believes that CEO changes every 10 years is the healthiest method in the rapidly developing blockchain and artificial intelligence technologies. CZ, who thinks that his decision to resign did not attract reaction because it was necessary, stated that if he had taken such a decision of his own will, it would have attracted reaction from a significant group of people, so there was a positive aspect of the situation. He also emphasized that the company did not lose any money and investors were not harmed.

Explaining that he devotes most of his free time to Giggle Academy, Zhao stated that he will continue to invest in blockchain and artificial intelligence and that his long-term expectations are upward, but it is difficult to comment on developments in the near future.

Stating that he has positive expectations for 2025, Zhao also touched upon the possible effects of the upcoming elections in the USA on the crypto industry. However, leaving the question of which candidate is more suitable for the crypto industry in the race between Trump and Kamala Harris unanswered, CZ said, “I have had enough problems with the state,” and said that he would avoid any comments that would get him in trouble. Regarding regulations, he emphasized that the classification of crypto is the most important agenda item.

Explaining that Giggle Academy is an initiative that aims to provide equal opportunities in education, CZ emphasized that the majority of children and adults who have difficulty accessing education are women. The platform, which aims to provide education by reducing the need for teachers through artificial intelligence, aims to produce content to meet the needs of individuals who have not received any education. “How many different ways can there be to explain many disciplines such as mathematics and English?” Acting with this logic, CZ stated that the biggest problem they currently face is ensuring stability in producing content through artificial intelligence.

He also stated that Giggle Academy, which aims to enable 15-16 age group or adults to get a job without the need for a university degree, will offer opportunities to young individuals in areas such as community management or customer services. Zhao concluded the panel by stating that the initiative, which has no profit expectations, aims to create a new model in education, will move forward with investments and has no plans to issue any tokens.