Binance Co-Founder CZ Does Not Want To Return To Company

Zhao Changpeng co-founder and former chief executive of crypto trading company Binance, known as CZ, said he has no wish to return to the firm even if he were allowed, after serving four months in a US prison from June to September this year.

“I don’t have any need to go back. I don’t have any wish to go back,” Zhao said during an interview at a Binance event in Dubai.

He is currently banned from working at the company under a plea deal with US authorities, which he said also prohibited him from speaking negatively about the deal.

He said the judge in his case had a tough job but noted he was the first person to serve prison time for failing to take money laundering precautions under the US’ Bank Secrecy Act, contrasting his deal to other recent settlements.

Jail time

“I think in the judge’s mind, he treated me very leniently,” the Canadian-Chinese entrepreneur said.

He said his prison experience was “not good”.

“I think the whole experience is just very limiting in a lot of ways, right? Your freedom is taken away and you have nothing to do, so it gives you a lot of time to reflect.”

While he was in prison crypto became a hot topic for presidential candidates ahead of US elections on Tuesday.

“I’m just sitting in prison like ‘What the hell happened?’ What if I waited for two months?” Zhao said.

He said he is now focusing on an education-based start-up called Giggle Academy and investments in blockchain, artificial intelligence and biotech.

$19bn fortune

After paying a $50 million (£38m) fine, Zhao, who is Binance’s largest shareholder, remains one of China’s wealthiest entrepreneurs.

He rocketed 81 places up the Hurun China Rich List this year to become the country’s 16th richest person, with a fortune of 135bn yuan, or $19bn.

This was largely due to increased cryptocurrency trading and a spike in the price of Bitcoin, Hurun said.

The cryptocurrency is currently trading about 95 percent up on its price a year ago.