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9 months ago
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- Instead of a new token, CZ announces a “Education project” in an X post.
- When exactly Changpeng Zhao will unveil his new idea is anyone’s guess.
Changpeng Zhao (CZ), co-founder and ex-CEO of Binance, unveiled a new initiative on Monday and promised to provide more information shortly. Instead of a new token, CZ announces a “Education project” in an X post.
No details about the project’s scope or compatibility with the Binance platform have been disclosed. Now that Zhao is no longer CEO of Binance, he may be starting a new venture to educate amateur investors and cryptocurrency traders.
No Details Revealed Yet
Similarly, CZ has been mostly absent from social media since his ouster. There was a great deal of buzz in the cryptocurrency community when he announced a new initiative. Many are wondering what the focus of the initiative will be.
When exactly Changpeng Zhao will unveil his new idea is anyone’s guess. It will be intriguing to find out who is engaged with the initiative. Zhao said, “Learning again by meeting founders” in a December post on X. Maybe the new venture will team up with the brains behind some other well-known cryptocurrency platforms or businesses.
It is noteworthy that Binance is celebrating a milestone when the announcement of the project is announced. As of March 18, the assets under custody of the top cryptocurrency exchange surpassed $100 billion, according to the announcement. The previous year, the exchange recorded $40 billion, so this accomplishment is a huge leap.
In the meanwhile, after his guilty plea to charges relating to a breach of the Bank Secrecy Act, CZ is now facing enforcement action. While Binance sought a settlement with the US DOJ, he was forced to resign as CEO. Although CZ was first detained, he was subsequently freed on a $175 million bond and instructed not to leave the United States.
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