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After his release from prison custody, Binance co-founder Changpeng Zhao (CZ) announced plans to continue investing in blockchain, artificial intelligence, and biotechnology.
Key Notes
CZ said that his focus on impact over returns and his ongoing commitment to his non-profit online education platform Giggle Academy.Following CZ's release, BNB saw a brief surge past $600, but dropped amid macroeconomic uncertainties.BNB bulls await a breakout above $616 to initiate further momentum.Now that Binance co-founder Changpeng Zhao (CZ) was out of prison custody last week, CZ has unveiled new plans for the next mission in his life. In his latest message on the X platform, Zhao stated that he plans to keep investing in the blockchain sector, along with artificial intelligence, and biotechnology.
In his first detailed message on the X platform, Zhao said that he would continue to focus on the non-profit online education platform Giggle Academy. He wrote:
“Giggle Academy has been going well, and will be a big part of my life for the next few years. Will continue to invest in blockchain/decentralized technologies, AI, and biotech. I am a long term investor who care about impact, not returns. I will also dedicate more time and funding to charity (and education). I have some rough ideas”.
Furthermore, Binance co-founder Changpeng Zhao described himself as a long-term investor who cares about the “impact, not returns”. CZ has been through some stress-inducing months recently along with Binance facing a $4.3 billion penalty in November 2023.
The exchange faced charges of failing to undertake measures preventing anti-terror and money-laundering measures. CZ himself agreed to pay a personal fine of $50 million and face four months of prison custody. However, last week on September 27, Zhao was out of jail custody from a prison facility in California.
gm, the food taste so good… And what a luxury to be able to have more than one piece of fruit per day!
I know some of you may have a lot of questions. I won't have all the answers.
Let me chill for a bit. Then figure out the next steps. There are always more opportunities in… https://t.co/9hvgp8Bo97
— CZ 🔶 BNB (@cz_binance) September 29, 2024
BNB Bulls Wait on Sidelines Following Zhao’s Release
Last week, bulls pushed the BNB BNB $580.5 24h volatility: -2.4% Market cap: $84.69 B Vol. 24h: $962.31 M price surging past $600 levels soon after the release of CZ. However, the global macro uncertainties have once again pushed BNB under $600 thereby coming to retest the neckline of the daily closing trendline.
Courtesy: Learning: Crypto
Bitcoin BTC $64 419 24h volatility: -1.7% Market cap: $1.27 T Vol. 24h: $19.32 B and the broader crypto market have been under some selling pressure amid the fears of future rate hikes by the Bank of Japan. In order to regain the upward momentum, BNB first needs to restore the resistance of $616. Crossing this will open the gates for a rally of $800.
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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
