Changpeng Zhao, the founder and former CEO of Binance, the world’s largest cryptocurrency exchange, is not sitting idle. CZ, who left his seat after a legal battle, is now working on a different initiative. In his latest statements, the former Binance boss said he will use artificial intelligence to launch his new business.
CZ shares AI plans
Changpeng Zhao (CZ), the former boss of crypto exchange Binance, made some statements regarding his new business venture. CZ posted another update on how the startup is progressing towards launch. Among other things, CZ shared that his company will need to implement AI tools to allow it to produce its product (online courses).
Zhao wrote in his tweet that “Giggle Academy” is making progress “though not entirely linear.” The team is currently busy brainstorming the best way to launch the first online course. Previously, CZ wrote on social media X that the education start-up plans to offer free educational classes, especially English lessons. According to CZ, the team is now working on what the course should look like, which game engine to use, specific features and animations, etc. discussing the issues. CZ admitted that this was “startup mode” again. But he seems happy about it.
New business project of former Binance CEO CZ
cryptokoin.comAs you follow from , CZ first announced its new business project on March 19. In his post: “Free basic (grades 1-12) education for everyone. There is no income. It’s gamified. Adaptable.” said. He then added that the company was hiring and the team would be small. Meanwhile, everyone hired will work directly with CZ. In his post today, CZ said that they have already hired enough talented teachers who can create digital content. But they still need more developers for “Giggle Academy”.
CZ faces a huge prison sentence
CZ had to resign from his position as CEO of Binance due to the accusations brought by the US Department of Justice against Binance and himself personally. The charges related to violating money laundering laws (specifically the Bank Secrecy Act). Binance agreed to pay a staggering $4.3 billion fine. Additionally, CZ’s resignation as CEO was also part of the agreement. However, CZ later pleaded guilty and faced up to 10 years in prison. Later, this period was extended to 18 years.
Immediately after announcing his resignation, CZ wrote that he had no plans to start a new business at X. CZ said he will engage in passive investing and possibly become a minority token/shareholder in start-ups focused on Blockchain, AI, biotechnology or DeFi.
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