Former Binance CEO Changpeng Zhao has revealed the imminent launch of his new project and hinted at the field in which he will be working.
CZ has not revealed any details about his new job yet, but on March 18th, he wrote in X about the release of his new project, GiggleAcademy. There are no interesting details yet, but it is known that it will be related to education.
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The former Binance executive promised to give more details about the project soon. To the main question of users, whether the project will be related to a new token, Zhao answered in the negative, saying that there will definitely not be a new token.
Interestingly, CZ apparently decided to completely change the scope of the project, as the new project, according to him, will provide educational resources. Interested subscribers and observers will have to wait patiently for new information. But it is now clear that Changpeng Zhao is not sitting idle while awaiting sentencing but is actively and profitably using the time to generate new ideas.
Under federal law, Zhao faces 10 to 18 months in prison, but sentencing has been delayed until April 30.
It's worth noting that former Binance CEO and founder Changpeng Zhao is currently facing enforcement action after pleading guilty and agreeing to resign as part of a settlement with the US Department of Justice related to violations of the Bank Secrecy Act. Zhao was previously ordered by the US Department of Justice to surrender his passports to a third-party custodian to be designated by his attorney.
At the same time, information about the new project appeared after Binance presented data on the assets of its users, which exceeded $100 billion. This is an important milestone for the exchange since, a year ago, it was only 40 billion dollars.
The exchange emphasized that the main factors contributing to this success are the stable performance of the cryptocurrency markets and the growing trust in Binance as a responsible steward of users' funds.
See also: Outflow of funds from spot Bitcoin ETFs exceeded $150 million
