Changpeng Zhao (CZ), the former CEO of Binance, publicly committed to focusing on his educational initiative, Giggle Academy, following his forced departure from Binance in 2023. However, despite this pledge, his online presence suggests he remains deeply involved in Binance’s BNB Chain, fueling speculation about his continued influence over the exchange and the broader crypto market.
CZ’s Exit and Post-Prison Plans
As part of a legal settlement, CZ agreed to a lifetime ban from managing Binance. Upon his release, he reiterated his commitment to Giggle Academy, an educational platform aimed at providing free learning resources and teaching children how to avoid crypto scams. In a September post on X, CZ emphasized that his focus would be on education and philanthropy, stating, “Giggle Academy has been going well and will be a big part of my life for the next few years.”
However, his social media activity tells a different story—one that suggests he remains highly engaged with the BNB Chain. His posts and interactions on X have consistently highlighted BNB Chain’s market performance, contributing to a surge in trading volume.
Some updates on @GiggleAcademy.
— CZ 🔶 BNB (@cz_binance) March 30, 2024
We got a team of 10 now. Some part time, some full time. All remote. We have calls together 3 times a week, in addition to adhoc smaller chats.
Hiring is on-going. I do a dozen interviews a week. We are targeting a 15 people team initially.
We…
BNB Chain’s Market Surge
On February 16, crypto analyst Crypto with Khan pointed out that BNB Chain’s 24-hour trading volume had exceeded $3.73 billion, surpassing Solana’s $2.66 billion. CZ further emphasized these statistics, referencing DeFiLlama data that showed BSC outperforming Solana’s weekly volume at the time. However, more recent figures indicate that Solana has reclaimed its second-place position, with the latest rankings showing Solana at $2.94 billion, Ethereum at $2.24 billion, and BNB Chain at $2.15 billion.
Community Divided Over CZ’s Influence
CZ’s continued engagement with BNB Chain has sparked mixed reactions within the crypto community. Supporters view his involvement as a positive force for innovation and market growth. Floki advisor Da Viking praised CZ’s impact, stating, “A true dragon cannot be caged! BNB Chain is already making waves under his direction.”
Conversely, critics accuse him of fueling speculative trading. DeFi researcher Leviathan criticized CZ for promoting hype-driven investments, stating, “Congrats CZ, you drove hundreds of millions in volume on BNB as thousands created fake meme coins, rinsing and rugging for millions.”
Adding to the intrigue, Binance Labs recently rebranded to YZi Labs, a move CZ described as an expansion of vision. However, many speculate that this rebranding may serve as a loophole for CZ to re-engage with Binance without directly violating his management ban. While YZi Labs is officially positioned as independent, its ties to Binance remain under scrutiny.
Also Read: Binance’s CZ Pledges 150 BNB to Support LIBRA Memecoin Victims After Devastating Collapse
Despite the controversy, CZ’s influence on BNB Chain remains undeniable, with his social media activity continuing to drive significant market movements. Whether this involvement will lead to further regulatory scrutiny or a Binance resurgence under a new brand remains an open question.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of CoinBrief.io. Before making any investment decisions, you should always conduct your own research. Coin Brief is not responsible for any financial losses.
