CZ: "I won't be CEO of Binance anymore"

It has been almost a month since Binance founder Changpeng Zhao was released from prison. Returning to his old position as CEO of the crypto exchange, however, is not his plan.

In a interview with Cointelegraph Zhao stated that he will not assume the role of Binance CEO again. "Although there is no clause in my agreement with the U.S. government prohibiting a return, I do not want to be CEO again," he said.

Running a company of Binance's size takes too much energy, he said. "I no longer have the drive or hunger I had seven years ago," he explains. Instead, the Chinese born is focusing on his new project, "Giggle Academy," a blockchain-based learning platform, and on investments in areas such as blockchain, AI and biotech.

Changpeng Zhao, better known as "CZ," spent four months in jail in the United States. Earlier, the 47-year-old had pleaded guilty to inadequate compliance with anti-money laundering measures at Binance. His crypto exchange subsequently paid a record $4.3 billion fine.