Besides, Bitcoin and the stock market already began accelerating last week when, on Wednesday, the Federal Reserve announced an increase in the interest rate by 50 basis points.
As reported by U.Today earlier, CZ started doing his prison time in early June. After he was charged with violating U.S. securities law, Changpeng Zhao stepped down as Binance chief executive, and the exchange agreed to pay the immense fine of several billion dollars at the demand of the U.S. Department of Justice.
Recently, the new CEO of Binance, Richard Teng, assured the crypto community in an X post that CZ is banned from running Binance until the end of his life; that was also a condition set by the Department of Justice.
However, he ended up launching online educational project Giggle Academy in order to teach underprivileged children finance, blockchain, English and math free of charge. This project started off not long before CZ started doing his prison term.
What CZ also did was to announce vague plans to write a book in prison, because he said he would have plenty of free time to do that.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
