Changpeng Zhao, CZ, has made his first public appearance since being released from prison, choosing Binance Blockchain Week Dubai as the setting to reconnect with the community.
It was a significant moment for the former CEO of Binance, who spent four months behind bars due to anti-money laundering violations, an experience that has evidently reshaped his perspective on life and business.
His appearance at the Binance Blockchain Week Dubai is an important step towards his full integration back into the crypto space.
INTEL: Binance founder CZ @cz_binance makes first public appearance at Binance Blockchain Week in Dubai after being released from jail. pic.twitter.com/jMzadMCUn9
— Solid Intel
(@solidintel_x) October 31, 2024
CZ’s Relationship with Binance Post-Prison
Sitting down for an interview with Austin Arnold of Altcoin Daily, CZ was asked how his summer in prison had been. CZ, who pled guilty in April and received a $50 million fine along with his prison sentence, acknowledged that he was the first person to serve time for the particular violation he was charged with.
He spent that time reflecting, especially on his future and his life priorities. In any case, CZ seems determined to “move on” and leave his prison time behind him. CZ’s return has sparked huge excitement in the crypto world, who see him as a pillar of crypto history.
The former CEO explained that while he can no longer be involved in Binance’s daily operations, his position as a shareholder remains unchanged. His relationship with the company is still good, “with others taking on the hard work,” but he is “forced to retire.”
Even if not an active part of the company, CZ’s contribution to Binance is so important that no one thinks of Binance without thinking of him.
Changpeng Zhao is generally bullish on crypto this year and ready to start a new chapter.
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BNB Price Analysis: How Did Binance Investors React to His Return?
(BNBUSDT)
BNB’s price is facing strong selling pressure at nearly $615. The price is currently around $578, close to the 50-day SMA at $578.6, which is acting as a support level.
The gradually up-moving averages and the RSI just above the midpoint possibly indicate a buying point for investors. If the price rises from the current level, it could increase the possibility of a rally to $635.
On the downside, the 50-day SMA remains a crucial level of support. If this level allows, the BNB could fall significantly, possibly around $527, with the next biggest support at $460.
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