Fortune: CZ released early today, where will he go next?
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Fortune: CZ released early today, where will he go next?
The golden age of 47, opening the second act of life.
Navigating Web3 tides with focused insightsBy Fortune
Translated by Azuma, Odaily Planet Daily
This Friday, CZ will walk the streets of Long Beach, California as a free man for the first time in months.
Since agreeing in April to return to the U.S. from Dubai, CZ has been under federal custody due to his role in failing to implement proper anti-money laundering controls at the cryptocurrency exchange he founded, Binance, resulting in a five-month prison sentence. During this period, he spent approximately two months in a minimum-security prison in the California desert before being transferred to a halfway house in Long Beach—where, according to a prison official, he was allowed supervised outings, even going to the movies.
Now, with CZ reentering society, he faces a wide range of possibilities. He retains a personal fortune of $60 billion (ranking 25th globally), and the legal issues that plagued him are now behind him. CZ did not immediately respond to questions about his next steps, and his lawyer told Fortune he did not wish to be interviewed on the day of his release.
Still, we can make some educated guesses about what comes next.
CZ will be released two days ahead of his official release date—common practice when the scheduled release falls on a weekend. He is likely to board a driver-serviced vehicle bound for a private jet in Long Beach or Los Angeles.
His first destination is likely to be either Dubai or Paris, where his children and their mother, He Yi—also a co-founder of Binance—reside.
In a 2023 interview with Fortune, CZ reflected on his intelligent but emotionally distant late father, expressing concern that he might have inherited some of those traits. After his release, CZ may seek to make up for lost time, focusing on spending more moments with family—including his sister, son, and mother.
His family members stood firmly by CZ during sentencing hearings earlier this spring, offering character testimony that helped persuade the judge to impose what many viewed as a lenient five-month sentence.
The judge also cited CZ’s “extraordinary commitment and dedication” to global charitable efforts. It remains unclear how actively CZ will pursue these commitments moving forward. Prior to his incarceration, he launched a project called Giggle Academy, pledging to create free, fun, and accessible learning tools for children around the world.
At his sentencing hearing, CZ said: “In the next chapter of my life, I want to create opportunities for others… I’m building a platform to provide free, high-quality education to underprivileged children globally.”
Currently, Giggle Academy appears to be little more than a website. A few job postings were listed several months ago, but no details are available regarding timelines, funding sources, or scope. Given CZ’s recent circumstances, this lack of progress isn’t surprising—and more information may emerge in the coming months.
Beyond family and philanthropy, a third focus for the newly freed CZ could still center on the cryptocurrency industry—the field that made him extraordinarily wealthy and dominant for much of the past decade.
However, CZ’s continued involvement in crypto faces significant obstacles. Under the terms of the criminal settlement, he was forced to resign as CEO of Binance and must stay away from day-to-day operations. The agreement also mandates that Binance accept two external monitors appointed by the U.S. government to ensure compliance.
Despite these clear restrictions, the reality is that Binance does not operate in the U.S., focusing instead on Asian and offshore markets. Even without serving as CEO, CZ remains its largest shareholder, giving him substantial influence over Binance’s future direction.
In response to requests for comment on CZ’s release, a Binance spokesperson wrote: “We’re thrilled that CZ will be reuniting with his family. While he won’t be managing or operating Binance going forward, we’re excited to see what he does next. Since last year, Binance has continued to thrive under the current leadership team, with over 229 million users worldwide.”
Finally, it's worth noting that CZ is only 47 years old—an age when many executives are at the peak of their careers, and for some, just beginning their tenure as CEO. All signs suggest that CZ is ready for an impactful second act, poised to remain influential in both the cryptocurrency and broader business worlds in the years ahead.
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