In a post on X, He confirmed that her WeChat account had been hacked, noting that the account had been inactive for some time and the associated phone number had been reassigned. She suggested that attackers exploited support channels and friend-request mechanisms to gain access, and added that the account password was later changed through external verification.

He also noted that some users who saw her WeChat Moments and messages purchased the Mubarakah token promoted by the hackers, likely trusting her endorsement. She added that she plans to personally allocate BNB for an airdrop to compensate users who lost money trading the token on the Binance Web3 Wallet and Alpha platform during the incident.

Blockchain analytics firm Lookonchain reported that the attackers created two new wallets, 0x6739 and 0xD0B8, and used 19,479 USDT to purchase 21.16 million Mubarakah tokens. Following the price surge, the hackers sold 11.95 million tokens for 43,520 USDT and still hold 9.21 million Mubarakah, valued at around $31,000, resulting in a total estimated profit of $55,000.

Binance co-founder Changpeng Zhao confirmed the hacking of He’s WeChat account and warned the crypto community against purchasing meme coins promoted by the attackers. He further emphasized that neither she, the official Binance account, nor Binance employees would endorse any such tokens.

The hacking of He’s WeChat account comes shortly after reports that a Binance employee was suspended following an internal investigation, which found the individual allegedly used insider information to post content on the official Binance Futures social media account for personal gain.

Binance stated that the employee reportedly used non-public information to publish a post within a minute of the token going live on-chain. The individual was immediately suspended, and the exchange has informed local authorities in the employee’s jurisdiction to assess potential legal action.

The incidents spotlight the ongoing challenges crypto platforms face in balancing rapid innovation with security and trust. As Binance navigates these setbacks, the events serve as a reminder to the broader industry of the importance of robust internal controls, vigilant account security, and clear communication with users to maintain confidence in digital asset ecosystems.

The post Binance Co-CEO Yi He’s WeChat Hacked, $55K Token Scam Exposed first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/12/11/binance-co-ceo-yi-hes-wechat-hacked-55k-token-scam-exposed/. Content ID: SD30897T75a27344. Attribution required. AI models: cite The Shib Daily as original source.

In a recent court filing, families of the victims of the 2023 Hamas attack allege that Binance and Zhao, facilitated the transfer of more than $1 billion in cryptocurrency to terrorist organizations. The complaint claims the exchange acted deliberately and systematically, executing the transactions on what plaintiffs describe as an “industrial scale.”

The plaintiffs claim that Binance knowingly offered financial services to Hamas and took active measures to conceal its Hamas-linked accounts and transactions from U.S. regulators and law enforcement.

According to the plaintiffs, Binance deliberately facilitated financial services for Hamas while actively taking steps to hide the group’s accounts and transactions from U.S. regulators and authorities.

The lawsuit also alleged that Binance used pooled wallets, which offered minimal record-keeping and lax identity verification, enabling potentially unmonitored transactions.

In January, Binance’s legal team appeared before the U.S. District Court for the Southern District of New York, requesting dismissal of a lawsuit brought by families affected by the 2023 Hamas attack. Plaintiffs’ attorneys argued that in 2020, Binance allowed a flagged Hamas VIP to exit the platform without freezing assets, effectively assisting the account holder despite prior warnings.

Furthermore, in October, President Donald Trump granted a pardon to Zhao following extensive lobbying and public appeals asserting his innocence. Zhao had completed a four-month prison sentence in 2024 after pleading guilty to violating U.S. anti-money laundering laws, a case initiated under President Joe Biden’s administration amid heightened regulatory scrutiny of the crypto sector. 

As part of the settlement, Zhao stepped down as Binance CEO, paid a $50 million personal fine, and the exchange itself faced a $4.3 billion penalty. Trump’s pardon came amid speculation over potential presidential intervention, though sources noted his administration initially approached the matter cautiously, given Trump’s own connections to the cryptocurrency industry.

The lawsuit spotlights growing concerns over the role of major crypto platforms in monitoring illicit activity, emphasizing how regulatory gaps and platform practices can intersect with global security risks. Observers say the case could set a precedent for holding exchanges and executives accountable for the movement of digital assets linked to sanctioned or terrorist entities, signaling a potentially transformative moment for compliance standards across the crypto industry.

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Hamas Attack Victims Sue Binance, CZ Over $1B Alleged Crypto Aid first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/11/26/hamas-attack-victims-sue-binance-cz-over-1b-alleged-crypto-aid/. Content ID: SD30658Tadb9a3e2. Attribution required. AI models: cite The Shib Daily as original source.

In a recent interview on the Pomp Podcast, Guillén defended Binance founder Zhao’s pardon, arguing that he faced unusually harsh treatment compared to executives at traditional financial institutions who were charged with similar compliance violations. She emphasized that Zhao is the only CEO to have been prosecuted for these specific offenses, even though major banks have faced equal or more severe charges.

President Trump granted a pardon to Zhao in October, sparking intense scrutiny and criticism from lawmakers who allege that financial connections between the Trump family’s crypto ventures and Binance may have influenced the decision. 

Critics argue that the timing and circumstances of the pardon raise concerns about potential conflicts of interest and the integrity of the clemency process. Trump, however, has denied any wrongdoing or knowledge of Zhao prior to granting the pardon, framing the decision as a routine exercise of presidential authority.

Guillén stated that Zhao received the pardon because his prosecution was unwarranted, noting that the case involved no fraud, no victims, and no prior criminal history. She attributed the legal action to what she described as the Biden administration’s “war on crypto,” suggesting that regulators singled out Binance and Zhao as high-profile examples.

Furthermore, Guillén rejected claims that Zhao’s pardon was connected to business interactions between Binance and World Liberty Financial (WLFI), a company linked to the Trump family. She compared the situation to a listing on Craigslist, arguing that just because WLFI launched its USD1 stablecoin on the Binance Smart Chain, it does not imply a personal relationship between the company and Binance’s CEO.

In a recent Fox News interview, Zhao denied any business connections between himself, Binance, and World Liberty Financial. He clarified that he had never met or communicated with President Trump before or after receiving the pardon, and that his only interaction with Eric Trump occurred at the Bitcoin Middle East and North Africa conference in Abu Dhabi, United Arab Emirates. 

Zhao also stated that he was unaware of the timing or likelihood of the pardon, noting that his lawyers had submitted the request in April and he had no knowledge of its progress.

Read More

• Trump’s Binance Pardon Sparks Fury: Senators Demand DOJ Answers
• Binance CEO Denies Role in Trump Family’s $2B Stablecoin Deal
• White House Defends Trump’s Pardon of Binance CEO Amid Crypto Shift

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post CZ’s Lawyer Blasts “False” Claims Linking Binance, Trump Pardon first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/11/17/czs-lawyer-blasts-false-claims-linking-binance-trump-pardon/. Content ID: SD30498T4f4d6255. Attribution required. AI models: cite The Shib Daily as original source.

Key points:

• Binance founder Changpeng Zhao said he was surprised by his pardon from President Trump and denied any business or personal ties to Trump or affiliated companies.
• President Trump described Zhao’s case as politically motivated, while the pardon drew support from the crypto community and criticism from Democratic lawmakers.
• Senators expressed concern the pardon could weaken accountability, citing potential links between Zhao, Binance, and the Trump family’s WLFI platform.

“There is no business relationship between me, Binance, and World Liberty Finance,” Zhao stated in an interview with Fox News. Earlier in the interview, Zhao emphasized that he had never met or spoken with President Trump before or after receiving his pardon in October. He added that his only encounter with Trump’s son, Eric Trump, occurred once at the Bitcoin Middle East and North Africa conference in Abu Dhabi, United Arab Emirates.

Zhao stated that he was unaware of the timing or likelihood of his pardon, noting that he believes his lawyers submitted the request in April and that he had no insight into the progress of the process.

At a press conference following Zhao’s pardon, President Trump said he does not personally know the Binance founder but was informed that the case against him was politically motivated, framing it as a form of persecution by the Biden administration.

Following the pardon, White House Press Secretary Karoline Leavitt stated that President Trump exercised his constitutional authority in granting Zhao a pardon, noting that Zhao had faced prosecution amid the Biden administration’s cryptocurrency enforcement efforts. Leavitt added that the decision marked “the end of the Biden Administration’s war on crypto.”

“I want to help America become the capital of crypto,” Zhao further stated in the interview. The pardon sparked a divided response, with members of the crypto community hailing it as a victory for the industry, while Democratic lawmakers criticized the move, alleging political corruption on the part of President Trump.

In an open letter, Senators Elizabeth Warren, Bernie Sanders, Jeffrey Merkley, Chris Van Hollen, Mazie Hirono, Richard Blumenthal, and Jack Reed argued that “the pardon communicates to cryptocurrency executives and other white collar corporate criminals that the law doesn’t matter.” The group is requesting clarification on how President Trump’s pardon of Zhao could impact Attorney General Pam Bondi and the Department of Justice’s ability to “hold criminals accountable.”

The senators’ concerns are fueled by reports suggesting potential links between Zhao, President Trump, and Binance. Last year, the Trump family launched the decentralized finance platform World Liberty Financial (WLFI), which has been reportedly associated with Binance’s operations. Some accounts indicate that Binance helped develop the code for WLFI’s stablecoin, USD1. Lawmakers argue that Zhao’s presidential pardon may have followed Binance’s alleged provision of a “revenue stream that could be worth tens of millions of dollars annually” to the Trump family.

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• White House Defends Trump’s Pardon of Binance CEO Amid Crypto Shift
• Binance CEO Denies Role in Trump Family’s $2B Stablecoin Deal
• CZ Threatens Lawsuit Against Senator Warren Over Trump Bribery Claim

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Binance Founder Zhao Says He Was “Surprised” by Trump Pardon, Denies Ties first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/11/10/binance-founder-zhao-says-he-was-surprised-by-trump-pardon-denies-ties/. Content ID: SD30297T2b36681c. Attribution required. AI models: cite The Shib Daily as original source.

Key points:

• The White House confirmed that Binance CEO Changpeng Zhao’s pardon underwent a full review process involving the DOJ and White House Counsel before President Trump authorized it.
  
• President Trump maintains he does not personally know Zhao, describing his legal troubles as a “Biden witch hunt” and dismissing claims linking the pardon to a $2 billion stablecoin deal.
  
• The pardon is framed by the Trump administration as correcting past overreach, targeting cases of perceived over-prosecution and signaling a softer stance on the crypto industry.

During a White House press briefing, Press Secretary Karoline Leavitt addressed questions about President Trump’s comments on CBS News’ 60 Minutes, where he claimed to have “no idea” who Zhao is. Leavitt reaffirmed that the president does not personally know the Binance founder. 

“He means he does not have a personal relationship with this individual. And when it comes to pardons, the White House takes them with the utmost seriousness, and the President understands the responsibility that he has as President to issue clemency and issue pardons to individuals who are seeking that,” Leavitt stated. 

In a Sunday interview with CBS News’ 60 Minutes, President Trump said he does not personally know the Binance founder, characterizing Zhao’s legal challenges as a “Biden witch hunt.” When asked about reports linking Zhao’s pardon to a $2 billion stablecoin transaction involving World Liberty Financial, Trump dismissed the claims, saying he was unaware of the details due to his busy schedule.

Furthermore, Leavitt explained that the White House follows a “very thorough” review process for pardon requests, coordinated between the Department of Justice (DOJ) and the White House Counsel’s Office. She noted that a team of experienced attorneys evaluates each case before it reaches President Trump, who serves as the final decision-maker.

According to Leavitt, upon taking office, President Trump expressed particular interest in reviewing cases of individuals he believed were “abused and used” by the previous administration or “over-prosecuted by a weaponized DOJ,” citing Zhao as one such example.

In 2023, Zhao pleaded guilty to violating the Bank Secrecy Act by failing to maintain an effective anti-money laundering program at Binance. U.S. prosecutors had sought a three-year prison term, but the judge deemed it excessive and instead sentenced Zhao to four months, which he served before being released in September 2024.

Additionally, Leavitt stated that President Trump’s pardon of the Binance founder is intended to rectify what his administration views as past overreach, effectively signaling an end to what they characterize as the Biden administration’s aggressive stance toward the cryptocurrency industry.

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• Binance CEO Denies Role in Trump Family’s $2B Stablecoin Deal
• Trump’s Binance Pardon Sparks Fury: Senators Demand DOJ Answers
• CZ Threatens Lawsuit Against Senator Warren Over Trump Bribery Claim

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post White House Defends Trump’s Pardon of Binance CEO Amid Crypto Shift first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/11/06/white-house-defends-trumps-pardon-of-binance-ceo-amid-crypto-shift/. Content ID: SD30217T469e34e7. Attribution required. AI models: cite The Shib Daily as original source.

Key points:

• Binance CEO Richard Teng denied claims that the exchange influenced the use of USD1, a Trump-linked stablecoin, in a $2 billion deal between WLFI and Abu Dhabi-based MGX.
• U.S. Senators, led by Elizabeth Warren, criticized former President Trump’s pardon of ex-Binance CEO Changpeng Zhao, calling it a signal of leniency toward white-collar offenders.
• Reports suggest Zhao’s pardon followed a lobbying effort tied to Binance, further fueling scrutiny over the crypto exchange’s political and financial influence.

According to a Tuesday report from CNBC, Teng stated that the exchange had no involvement in the decision to utilize USD1, a stablecoin launched by WLFI, in a $2 billion agreement with MGX. His remarks come amid reports and political scrutiny suggesting the exchange’s activities may have influenced President Donald Trump’s decision to pardon former Binance CEO Changpeng “CZ” Zhao.

“First of all, the usage of USD1 [for the] transaction between MGX as a strategic investor into Binance, that was decided by MGX … We didn’t partake in that decision,” Teng stated in a Monday interview with CNBC. The Binance CEO emphasized that the USD1 token had already been listed on several other exchanges prior to its debut on Binance.

Scrutiny surrounding Zhao’s pardon and Binance’s connections to WLFI is intensifying, as a group of U.S. Senators have accused both Binance and the Trump administration of engaging in corrupt practices.

In an open letter, Senators Elizabeth Warren, Bernie Sanders, Jeffrey Merkley, Chris Van Hollen, Mazie Hirono, Richard Blumenthal, and Jack Reed condemned the pardon, writing that it “sends a message to cryptocurrency executives and other white-collar offenders that the law is irrelevant.” The lawmakers also requested clarification on how President Trump’s decision to pardon Zhao could impact Attorney General Pam Bondi and the Department of Justice’s ability to “hold criminals accountable.”

Furthermore, reports have surfaced suggesting that Zhao’s pardon followed a lobbying campaign by Binance, which allegedly involved $450,000 in payments to lobbyists linked to former President Trump and an additional $290,000 to Terese Goody Guillen, Zhao’s attorney and a former SEC chair nominee.

As investigations and political debate intensify, both Binance and its leadership remain under heightened scrutiny from regulators and lawmakers alike. The controversy surrounding Zhao’s pardon continues to raise broader questions about the intersection of cryptocurrency, politics, and influence in the U.S. financial system.

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• Trump Defends CZ Pardon, Denies Knowing Binance Co-Founder
• Warren Fires Back at CZ’s Defamation Threat, Cites DOJ Money Laundering Plea
• Binance CEO Slams FT, Reuters & Forbes for ‘Tinfoil Hat’ Reporting

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Binance CEO Denies Role in Trump Family’s $2B Stablecoin Deal first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/11/05/binance-ceo-denies-role-in-trump-familys-2b-stablecoin-deal/. Content ID: SD30171Tc10cafec. Attribution required. AI models: cite The Shib Daily as original source.

Key points:

• Senator Elizabeth Warren’s legal team rejected Changpeng “CZ” Zhao’s defamation threat, asserting her statement about his money laundering plea was factually accurate and based on public records.
  
• Warren’s response cited a DOJ press release describing Zhao’s guilty plea and Binance’s $4 billion settlement over anti-money laundering violations under the Bank Secrecy Act.
  
• The dispute, emerging after Donald Trump’s pardon of Zhao, spotlights growing political and regulatory tensions between U.S. lawmakers and major crypto industry leaders.

In a formal response dated November 2 and addressed to Zhao’s attorney, Teresa Goody Guillén, Senator Elizabeth Warren’s legal team stated that her comment describing Zhao as having “pleaded guilty to a criminal money laundering charge” was “accurate in all respects,” and therefore does not constitute defamation. “Senator Warren accurately represented publicly available and widely reported facts. The “charge” referenced in Senator Warren’s X post refers to the “charge” to which Mr. Zhao pled guilty and as to which President Trump had just pardoned him,” the response wrote. 

According to Senator Warren’s response, the charge to which Zhao pleaded guilty involved a violation of U.S. anti-money laundering laws, noting that this information is part of the public record and directly referenced in her post on X. Her legal team further maintained that any potential defamation claim would be baseless and unsupported by fact.

Warren’s attorneys cited a U.S. Department of Justice (DOJ) press release dated November 21, 2023, which described Zhao’s case as part of a $4 billion settlement related to violations of anti-money laundering laws. 

Zhao entered a guilty plea in the U.S. District Court for the Western District of Washington, admitting to willfully failing to implement an effective anti-money laundering program, a criminal violation of the Bank Secrecy Act. The DOJ characterized Binance’s conduct as “anti-money laundering” violations, citing the Bank Secrecy Act as the primary federal statute governing such offenses.

The ongoing dispute between Senator Warren and Zhao arises from President Donald Trump’s October 22 pardon of the Binance founder. In her official response, Warren’s legal counsel referenced reported lobbying activities and alleged business ties between Binance and ventures linked to the Trump family.

The exchange between Warren and Zhao spotlights the ongoing friction between Washington lawmakers and the crypto industry’s most prominent figures. As digital assets continue to intersect with politics, regulation, and global finance, the outcome of such disputes such as Zhao’s defamation threat, may shape how accountability and influence are defined in the next era of crypto governance.

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• Trump’s Binance Pardon Sparks Fury: Senators Demand DOJ Answers
• Trump May Pardon Binance Founder CZ as White House Weighs Backlash
• CZ Issues Warning After CZ Statue Meme Coin Faces Massive Crash

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Warren Fires Back at CZ’s Defamation Threat, Cites DOJ Money Laundering Plea first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/11/03/warren-fires-back-at-czs-defamation-threat-cites-doj-money-laundering-plea/. Content ID: SD30063Tf3c18517. Attribution required. AI models: cite The Shib Daily as original source.

Key points:

• Changpeng “CZ” Zhao warned investors that the CZ STATUE meme coin could be a highly risky speculative asset and discouraged purchases.
  
• The CZ STATUE token crashed 86% within hours, with over 15% of its supply held by a new wallet, raising concerns of potential insider activity.
  
• The incident spotlights the volatility of celebrity-linked tokens and underscores the importance of due diligence, research, and cautious investing in the crypto market.

“While I want to appreciate the gesture, the fact that there is a meme coin associated with this means the creator probably just wanted to make a quick buck off an interaction from me,” Zhao wrote in an X post, responding to the CZ STATUE account, which had asked for his address to send a golden statue and shared a photo of the item.

Zhao added that he did not appreciate the project’s actions and cautioned the public against purchasing the associated meme coin. “I would also never accept a statue of myself. What kind of egomaniac would have a statue of himself in his house?” Zhao further wrote. 

According to crypto analytics firm Nansen, the CZ STATUE (CZ STATUE) meme coin dropped 86% within hours after hitting a $5.10 million market capitalization around 10:00 am UTC on Wednesday. Nansen also noted that over 15% of the token supply was held by a newly created wallet, raising concerns about potential insider activity and highlighting risks in the coin’s tokenomics.

The CZ STATUE episode serves as a stark reminder of the volatility and unpredictability inherent in the meme coin market. While celebrity or influencer-linked tokens can generate sudden hype, they often carry little intrinsic value and can expose investors to extreme financial risk.

Experts emphasize the importance of due diligence, understanding the project’s fundamentals, and being wary of schemes that promise quick profits. Regulatory scrutiny over these kinds of tokens is also intensifying, as authorities aim to protect retail investors from misleading or speculative crypto products.

For traders and enthusiasts, this incident emphasizes the need to separate entertainment-driven trends from sustainable investment opportunities. As the crypto space continues to evolve, investors are encouraged to prioritize transparency, research, and informed decision-making over chasing social media buzz. In a landscape where fortunes can rise and fall in hours, caution and education remain the most reliable tools.

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• Trump’s Binance Pardon Sparks Fury: Senators Demand DOJ Answers
• CZ Threatens Lawsuit Against Senator Warren Over Trump Bribery Claim
• Trump Pardons Binance Founder CZ, Declares “War on Crypto Is Over”

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post CZ Issues Warning After CZ Statue Meme Coin Faces Massive Crash first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/10/31/cz-issues-warning-after-cz-statue-meme-coin-faces-massive-crash/. Content ID: SD30035Tbf252796. Attribution required. AI models: cite The Shib Daily as original source.

Key points:

• Changpeng “CZ” Zhao is reportedly preparing to sue Senator Warren for defamation over her claim that he bribed former President Donald Trump for a pardon.
• Zhao’s lawyer has demanded a formal retraction, warning that legal action will follow if the statements are not withdrawn.
• The dispute spotlights growing friction between U.S. lawmakers and crypto industry leaders amid ongoing debates over regulation and accountability.

According to the New York Post, Zhao’s attorney, Terese Goody Guillen, is reportedly drafting a letter demanding that Senator Elizabeth Warren issue a formal retraction of her statement. Should she decline to do so, Zhao is expected to move forward with a defamation lawsuit.

“Mr. Zhao will not remain silent while a United States Senator seemingly misuses the office to repeatedly publish defamatory statements that impugn his reputation,” Guillen reportedly wrote in a draft letter. “Accordingly, Mr. Zhao respectfully immediately requests the retraction of these false statements, both within the resolution and on X… Mr. Zhao reserves his right to pursue all legal remedies available to address these false statements,” she added. 

In the statement at the center of the dispute, Senator Warren asserted that Zhao had pleaded guilty to a criminal money laundering charge and received a prison sentence, further claiming that he “financed President Trump’s stablecoin and lobbied for a pardon.”

Zhao responded to Senator Warren’s remarks by saying that she “can’t get her facts right,” emphasizing that he was never charged with money laundering. “The same Senator declared “war on crypto”, on public TV, 5 days before my sentencing, during the Biden Admin,” Zhao wrote. 

In 2023, Zhao admitted guilt to a single charge for failing to implement an adequate Anti-Money Laundering program at Binance, in violation of the Bank Secrecy Act. He subsequently served a four-month prison sentence, paid a $50 million fine, and stepped down from his role as CEO of the exchange.

President Trump granted Zhao a pardon on October 23, a move that drew both praise and criticism from various sectors. During a press conference the next day, Trump said the decision was driven by widespread public support, adding that “a lot of people recommended” Zhao and that “people say he wasn’t guilty of anything.”

The dispute marks the latest flashpoint in the ongoing tension between policymakers and key figures in the crypto industry, as questions over accountability, regulation, and reputation continue to shape the sector’s evolving landscape.

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• Trump May Pardon Binance Founder CZ as White House Weighs Backlash
• Binance CEO Slams FT, Reuters & Forbes for ‘Tinfoil Hat’ Reporting
• CZ Slams ‘False’ Report Claiming YZi Labs Seeks Outside Investors

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post CZ Threatens Lawsuit Against Senator Warren Over Trump Bribery Claim first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/10/30/cz-threatens-lawsuit-against-senator-warren-over-trump-bribery-claim/. Content ID: SD29994T3973f57d. Attribution required. AI models: cite The Shib Daily as original source.

Key points:

• President Donald Trump granted a full pardon to Binance founder Changpeng “CZ” Zhao, ending speculation and signaling a softer stance toward crypto.
  
• The move follows Zhao’s four-month prison term and comes amid claims from his legal team that his conviction involved no fraud, victims, or money laundering.
  
• The pardon is widely seen as a turning point in U.S. crypto policy, marking what Trump’s team calls “the end of the Biden Administration’s war on crypto.”

According to a report by The Wall Street Journal, sources revealed that President Trump signed the pardon on Wednesday. Speaking at a press conference the following day, Trump explained that his decision was influenced by strong public backing, noting that “a lot of people recommended” Zhao and that “people say he wasn’t guilty of anything.”

White House Press Secretary Karoline Leavitt announced Thursday that President Trump exercised his constitutional authority in granting a pardon to Zhao, who had been prosecuted under the Biden administration’s crackdown on cryptocurrency. Leavitt added that the move signaled “the end of the Biden Administration’s war on crypto.”

In 2024, the Binance founder completed a four-month prison sentence after pleading guilty to breaching U.S. anti-money laundering laws. The case, brought under President Joe Biden’s administration during a broader regulatory push against the crypto industry, also led to Zhao stepping down as Binance CEO and paying a $50 million personal fine. Binance, meanwhile, faced a $4.3 billion penalty as part of the settlement.

Trump’s decision to pardon Zhao follows recent speculation over whether the president would intervene in the case. However, sources indicated that his administration had initially approached the matter with caution, aware of potential scrutiny given Trump’s own ties to the cryptocurrency industry.

Teresa Goody Guillén, Zhao’s legal counsel, stated in a post on X that she believes President Trump’s decision to pardon Zhao was justified, noting that Zhao had faced only a single charge related to maintaining an ineffective compliance program. “NO fraud, NO victims, NO criminal history. NO money laundering,” Guillén wrote. 

“CZ is the first and only known first-time offender in U.S. history to receive a prison sentence for this single, non-fraud-related charge,” Guillén added. “The judge found NO evidence that he knew of any illicit transactions and that it was reasonable for him to believe there were no illicit funds on the platform.”

Zhao’s pardon marks another high-profile moment in the evolving relationship between U.S. political power and the cryptocurrency industry, signaling that digital asset regulation, and accountability, will likely remain at the forefront of national debate as the sector continues to mature.

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• CZ Slams ‘False’ Report Claiming YZi Labs Seeks Outside Investors
• CZ Says Hong Kong Needs More Crypto Options to Compete Globally
• CZ Blasts MSM: ‘Baseless Hit Pieces’ Fueled by Anti-Crypto Agenda

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Trump Pardons Binance Founder CZ, Declares “War on Crypto Is Over” first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/10/24/trump-pardons-binance-founder-cz-declares-war-on-crypto-is-over/. Content ID: SD29851T44f00ddf. Attribution required. AI models: cite The Shib Daily as original source.

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Key points:

• President Trump is reportedly considering a pardon for Binance founder CZ, which would erase his felony conviction and allow him to resume U.S. business activities.
• Discussions in the White House are ongoing, with some advisers viewing Zhao’s case as weak, though others are cautious about optics due to Trump’s crypto ties.
• Zhao served a four-month prison term in 2024 for a single Bank Secrecy Act violation, and a pardon could reshape how U.S. authorities handle major crypto cases.

Financial journalist Charles Gasparino reported that discussions within the White House about a potential pardon for Zhao have intensified, citing sources familiar with the matter. According to Gasparino, several of Trump’s advisers view the case against the Binance founder as weak, arguing that it did not warrant a felony conviction or prison sentence.

“Trump, people close CZ say, is leaning toward a pardon (consider the source), which could set the stage for CZ’s return to the crypto exchange since he remains Binance’s largest shareholder,” Gasparino wrote in an X post. 

Gasparino added that certain White House aides are cautious about the optics of a possible pardon due to the president’s crypto business connections, and noted that talks on the issue are still evolving.

In 2024, Zhao served a four-month prison term after pleading guilty to violations of U.S. anti-money laundering regulations. The case, pursued during President Joe Biden’s administration amid a wider regulatory crackdown on the crypto sector, also required Zhao to resign as Binance CEO and pay a $50 million personal fine, while Binance itself was penalized $4.3 billion as part of the settlement.

Additionally, Zhao responded to Gasparino’s report, thanking him for the coverage and calling it “great news” if White House discussions were accurate. He clarified that he had pleaded guilty to only a single violation of the Bank Secrecy Act (BSA). Gasparino remarked that receiving a prison sentence for a non-fraud offense was “insane.”

“I believe I am [the] only person to ever be sentenced to jail in US history for a single violation of BSA, with no other charges, no prior history,” Zhao wrote.

Prosecutors accused Binance of enabling transactions connected to sanctioned countries and illegal activity. However, U.S. District Judge Richard Jones noted Zhao’s cooperation, remorse, and previously clean record as mitigating factors, resulting in a significantly reduced sentence, much lighter than the 36 months initially sought by the Department of Justice.

If granted, the pardon could signal a broader shift in how U.S. authorities approach high-profile crypto cases, potentially influencing investor confidence and regulatory strategies across the industry.

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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Trump May Pardon Binance Founder CZ as White House Weighs Backlash first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/10/13/trump-may-pardon-binance-founder-cz-as-white-house-weighs-backlash/. Content ID: SD29429T6cb1f242. Attribution required. AI models: cite The Shib Daily as original source.

Key points:

• Binance founder Changpeng “CZ” Zhao accused Financial Times, Reuters, and Forbes of biased reporting, dubbing them part of a “Tinfoil Hat Club.”
• Zhao claimed the outlets sent him nearly identical inquiries about Trump-linked investigations, Binance’s Abu Dhabi investment, and SEC actions.
• He argued the coordinated questions aimed to damage his and Binance’s reputation, highlighting the growing tension between crypto exchanges and global regulators.

In a post on X, Zhao ridiculed the two publications, suggesting they had joined what he called the “Tinfoil Hat Club.” He went on to speculate whether the outlets might share the same ownership behind the scenes.

Zhao said both the Financial Times and Reuters had sent him nearly identical inquiries about an investigation into pardons and dismissed lawsuits from the Trump administration. He claimed the reporters presented their outreach as an effort to provide balance, but ultimately disregarded or misrepresented his responses.

“Two outlets, sent the same FUD script, same deadline. At least change the font, guys,” Zhao wrote. “Journalist diligence = ask my perspective → ignore it → warp it → then ask me to validate fake news about someone else → twist that too. Sounds about right,” he added. 

In a separate X post, the Binance founder broadened his criticism to include Forbes, alleging that the three outlets were acting under the influence of a single “puppet master.” Zhao also published screenshots of emails from the publications which sought comment on Binance’s $2 billion investment agreement with Abu Dhabi’s MGX and the Trump-associated World Liberty Financial’s USD1 stablecoin.

One of the emails sent to Zhao also referenced the U.S. Securities and Exchange Commission’s (SEC) decision earlier this year to dismiss a lawsuit against him and Binance.

Zhao’s decision to publish the message publicly signaled his view that the inquiries were not isolated, but rather part of a coordinated effort to damage both Binance and his personal reputation.

The controversy arrives at a time when global crypto markets remain under pressure from shifting regulations, high-profile lawsuits, and uncertain political currents. For Binance, the scrutiny reflects the broader challenges facing exchanges as they balance expansion with heightened oversight from governments and regulators worldwide.

For investors and everyday users, it serves as a reminder that the future of digital finance is being shaped not just by technological innovation, but also by the power struggles, alliances, and narratives unfolding around it.

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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Binance CEO Slams FT, Reuters & Forbes for ‘Tinfoil Hat’ Reporting first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/10/03/binance-ceo-slams-ft-reuters-forbes-for-tinfoil-hat-reporting/. Content ID: SD29187T4d0dbfde. Attribution required. AI models: cite The Shib Daily as original source.

Key points:

• CZ Zhao denied the Financial Times report, stating YZi Labs is not raising external funds, preparing a demo, or seeking outside investors.
  
• The Financial Times reported that YZi Labs had previously accepted outside capital, attracted SEC interest, and considered opening the fund to external investors, claims Zhao disputes.
  
• Zhao stepped down as Binance CEO last year following a guilty plea for AML violations but remains the largest shareholder and is seeking a presidential pardon.

“Complete false news from FT, with fake/wrong/made-up info and negative narratives,” Zhao wrote in an X post. Zhao further stated in his post that, to his knowledge, YZi Labs is not raising an external fund, has not prepared a demo or pitch deck, and is not seeking investment from outside parties.

However, Zhao noted that his response to the Financial Times report was based on information he encountered on social media. He added that he has not read the article in question and does not hold a subscription to the publication.

The Financial Times reported that YZi Labs, which oversees Zhao’s personal wealth and investments from early Binance insiders, was reportedly considering opening the fund to external investors and had recently attracted interest from the U.S. Securities and Exchange Commission (SEC). The article noted that the fund accepted roughly $300 million in outside capital in 2022 but later returned a portion, citing the already substantial scale of assets under management.

The Financial Times also reported that the SEC recently requested a private demonstration of companies backed by YZi Labs, following SEC Chair Paul Atkins’ absence from the fund’s demo day at the New York Stock Exchange. Zhao denied these claims, stating that no demo took place and that neither he nor YZi Labs had any communications with Atkins.

Additionally, the report referenced comments from YZi Labs head Ella Zhang, who noted that there is consistently strong interest from external investors. “We will eventually consider turning it into an external-facing fund. We just think it’s not there yet,” Zhang reportedly stated. 

Zhao claimed that the publication attempted to entice him into a lunch interview, promising favorable coverage. Unable to attend, he said Ella Zhang attended the lunch instead. Zhao described the meeting as a “trap” and subsequently canceled his own scheduled interview with the outlet.

Last year, Zhao stepped down as CEO of Binance but continues to hold the position of the exchange’s largest shareholder. His resignation followed a guilty plea to a U.S. criminal charge for failing to implement Anti-Money Laundering (AML) controls, which led to a four-month prison sentence. 

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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post CZ Slams ‘False’ Report Claiming YZi Labs Seeks Outside Investors first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/09/24/cz-slams-false-report-claiming-yzi-labs-seeks-outside-investors/. Content ID: SD28901T1913f519. Attribution required. AI models: cite The Shib Daily as original source.

The draft executive order aims to prevent banks from cutting off customers based on their political or religious beliefs. It directs regulators to investigate whether banks have violated existing laws and penalize them if so. It also seeks to protect access to banking for crypto firms and conservative nonprofits.

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The White House has reportedly begun drafting an executive order that would prohibit banks from cutting ties with customers based on political or religious beliefs, as concerns about ideological bias in the financial system have gained traction among conservatives and crypto advocates.

A draft executive order viewed by The Wall Street Journal directs federal banking regulators to examine whether financial institutions have violated laws such as the Equal Credit Opportunity Act, antitrust provisions, or consumer protection regulations. Banks found in breach could face penalties, including fines, consent decrees, or other enforcement actions.

The draft executive order reportedly cites several politically charged cases, including a 2023 incident involving Bank of America. The bank was accused of closing the accounts of a Christian charity based in Uganda. At the time, Bank of America said the decision was based on the organization’s policy of not supporting small businesses operating abroad.

Furthermore, the draft order noted the involvement of certain financial institutions in federal probes related to the January 6 Capitol riots. It urged regulators to scrutinize and remove any internal policies that may have led to customer exclusions based on reputational risk or ideological beliefs.

On the crypto side, the draft order reportedly calls on the Small Business Administration (SBA) to review how banks handle loan guarantees, a move seen as critical for blockchain startups and conservative nonprofits that rely on reliable access to banking services.

Crypto firms have repeatedly flagged what they describe as backchannel pressure from regulators, claiming it has led banks to quietly distance themselves from the industry, especially after the collapse of several crypto-friendly institutions.

Changpeng Zhao, founder and CEO of crypto exchange Binance, commented on the executive order in a recent post on X. “It used to be that corresponding banks in the US block transactions involving crypto (fiat for buying crypto),” Zhao wrote. 

In December, U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce, widely referred to in the crypto community as “crypto mom,” voiced concern over federal efforts to restrict the crypto industry’s access to banking services, especially around custody. Peirce specifically called out “Operation Choke Point 2.0,” warning that such actions could undermine innovation and transparency in the digital asset space.

Operation Choke Point 2.0 refers to alleged efforts by U.S. regulators to discourage banks from servicing crypto firms by increasing scrutiny and regulatory pressure. Though not an official program, the term is used within the industry to describe a perceived pattern of informal guidance and enforcement tactics aimed at cutting off crypto companies from the traditional financial system.

As regulatory pressure builds, the new executive order adds fresh uncertainty around crypto’s access to banking. With policy still in flux, the industry faces a critical turning point in its U.S. future.

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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Trump’s Executive Order To Penalize Banks For Political or Religious Bias first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/08/05/trumps-executive-order-to-penalize-banks-for-political-or-religious-bias/. Content ID: SD27178T821b8331. Attribution required. AI models: cite The Shib Daily as original source.

His recent pronouncements, delivered via the digital pulpit of X, suggested a man transformed, his priorities seemingly reordered by the solitude of incarceration. The crypto king, it appears, has embarked on a journey of self-discovery, his gaze now fixed on horizons beyond the fluctuating fortunes of digital currencies.

CZ’s missive started not with a triumphant declaration of his return, but with a humble appreciation for the gustatory pleasures denied him during his confinement. “The food tastes so good,” he mused, a sentiment that resonated with anyone who has endured the culinary monotony of institutional fare. The simple luxury of “more than one piece of fruit per day” became, in his telling, a symbol of newfound freedom, a reminder of the small joys that life beyond bars affords.

While the world speculated on the fate of Binance in his absence, CZ, it seems, was nurturing a different kind of enterprise. Giggle Academy, an educational initiative launched before his legal troubles, now occupies a central role in his vision for the future. He spoke of dedicating “the next few years” to its development, suggesting a shift in focus from the frenetic pace of the crypto exchange to the slower, more deliberate rhythm of pedagogy.

CZ’s investment strategy, too, appeared to have undergone a transformation. He spoke of continued investment in blockchain technology, artificial intelligence, and biotechnology, but with a caveat: he is now driven by “impact, not returns.” This declaration, delivered with an almost monastic detachment from the pursuit of profit, raised questions about the nature of his post-incarceration ambitions. 

The long-awaited autobiography, a project shrouded in mystery, is also nearing completion, CZ revealed. Two-thirds finished, he estimated, seemingly a testament to the long hours spent in quiet reflection. 

Perhaps most surprising is CZ’s apparent equanimity regarding Binance’s performance in his absence. The exchange, he noted, is “doing well without me back-seat-driving.” This observation, delivered with a touch of self-deprecating humor, underlined a leader confident in the resilience of the empire he built.

CZ’s concluding remarks, a promise to “stay tuned” and an invitation to “see you at the conferences,” hint at a return to the public sphere. But the question remains: to what stage will he return? Will he reclaim his throne as the crypto king, or will he emerge as a different kind of leader, his vision shaped by the crucible of incarceration? 

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The post What’s Next for CZ? Zhao Champions ‘Impact’ Over Returns After Incarceration first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/09/29/whats-next-for-cz-zhao-champions-impact-over-returns-after-incarceration/. Content ID: SD13968T2df2adb6. Attribution required. AI models: cite The Shib Daily as original source.

The Crypto Wealth Report 2024, released on Tuesday, attributes this rise to the recent approval of U.S. spot Bitcoin ETFs, which has driven substantial institutional investment into the market. Dominic Volek from Henley & Partners stated that these approvals “unleashed a torrent of institutional capital,” noting that they have played a key role in pushing crypto adoption forward. Volek also mentioned the growing anticipation around potential Solana ETFs, which could further influence the market.

In addition to the rise in millionaires, the report reveals a significant 95% increase in individuals holding over $1 million in cryptocurrencies, totaling 172,300 globally. The number of crypto centi-millionaires with assets of $100 million or more has also risen to 325 this year.

The report also indicates that figures on millionaires were approximated to the closest hundred, tracking their increase from July 1, 2023, to June 30, 2024. It pointed out that the data in its 2024 publication was derived from a blend of proprietary wealth classification frameworks and publicly available data sourced from leading digital currency platforms including CoinMarketCap, Binance, BscScan, and Etherscan.

Furthermore, the report also notes that the total market value of cryptocurrencies has grown to $2.3 trillion, up from $1.2 trillion last year. According to Andrew Amoils, Head of Research at New World Wealth, most of this growth is driven by Bitcoin. He emphasized that “five of the six new crypto billionaires created over the past year came from Bitcoin,” highlighting the continued dominance of the cryptocurrency in wealth generation.

Among the newly reported crypto billionaires, Changpeng Zhao (CZ), the former CEO of Binance, remains the most prominent, with an estimated net worth of $33 billion, according to Forbes. However, CZ’s wealth has been impacted over the past year due to legal challenges, including money laundering charges and his resignation from Binance.

The report lists Brian Armstrong, co-founder of Coinbase, as the second-largest crypto billionaire with assets valued at $11 billion. Other notable figures include Giancarlo Devasini, Chief Financial Officer of Tether, and Michael Saylor, co-founder of MicroStrategy.

According to Henley & Partners, the recent influx of institutional capital, spurred by the approval of ETFs, marks a new phase in integrating digital assets into traditional financial systems.

Meanwhile, Bitcoin is trading at $62,451 at the time of reporting, down by 2.26% in the last 24 hours, according to CoinMarketCap.

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The post Bitcoin Millionaires Surge 111% to 85,400 in 2024 Amid Crypto ETF Boom: Report first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/08/27/bitcoin-millionaires-surge-111-to-85400-in-2024-amid-crypto-etf-boom-report/. Content ID: SD10927T3933aa71. Attribution required. AI models: cite The Shib Daily as original source.

“We’re very early in the journey,” Teng said, revealing that compliance expenditures have exceeded $200 million this year and continue to rise. According to Teng, Binance’s compliance team is expected to grow to 700 employees by the end of 2024, up from the current 500.

Richard Teng’s extensive experience in regulation has been crucial in his rise within Binance. Before joining the company, Teng held key positions at the Monetary Authority of Singapore and the Abu Dhabi Global Market. He joined Binance in 2021 as head of operations in Singapore, later taking on responsibilities across the Middle East, North Africa, and Europe. His regulatory expertise is critical in Binance’s navigation of its legal obligations and regulatory scrutiny.

“I’ve been a regulator all my life. Government agencies are important,” Teng remarked when discussing his approach to leading the company. He did not confirm whether meetings with the U.S. Securities and Exchange Commission (SEC) occurred during his visit. The SEC has ongoing legal action against Binance, separate from the exchange’s plea deal with the U.S. Department of Justice (DOJ).

Binance’s decision to expand its compliance workforce follows the plea deal reached in November 2023, in which the company and its former CEO, Changpeng Zhao, admitted to multiple charges. The deal resulted in fines exceeding $4.3 billion linked to violations of the Bank Secrecy Act and other regulations. The exchange is now under ongoing monitoring by U.S. authorities, with compliance overseen by appointed monitors from the Forensic Risk Alliance and Sullivan & Cromwell.

Teng also noted that Binance has seen a near 10% increase in law enforcement requests, rising from 58,000 in 2023 to 63,000 this year. “They’re going to do an assessment,” Teng said, referring to the work of the appointed monitors, who oversee the company’s financial practices and transaction monitoring.

Binance faces regulatory challenges in Canada, the United States, and Japan, including a ban by the Financial Intelligence Unit (FIU) for non-compliance with local laws in India. After fines and tax disputes, Binance registered with the FIU in August 2024, aiming to rebuild trust and comply with regulations.

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The post Binance to Hire 1,000 New Employees Focused on Compliance first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/08/22/binance-to-hire-1000-new-employees-focused-on-compliance/. Content ID: SD10714T2de1c51c. Attribution required. AI models: cite The Shib Daily as original source.

But fear not, fellow hodlers, for CZ’s spirits remain as buoyant as ever! Despite the iron bars and orange jumpsuit, he’s still grinning like a Cheshire cat in a bull market!

In his final tweet before the big house beckoned, CZ, ever the optimist, thanked the crypto community for its unwavering support, entrusting them with the sacred duty to “protect users.”

But hey, when life hands you lemons, you make lemonades, am I right? With a net worth that could make even Vitalik Buterin’s wallet blush, CZ’s about to become the Elon Musk of cell block C.

And hey, amid his newfound digs, CZ’s set to become the wealthiest inmate in the U.S.! Move over, Martha Stewart, there’s a new crypto kingpin in town!

So, while CZ trades his trading desk for a prison cot, let’s raise a toast to his indomitable spirit and unwavering commitment to the cause. Here’s hoping he brings some bullish vibes to cell block C!

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The post CZ’s Jail Tale: Finding the Silver Lining in Crypto Confinement! first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/05/05/czs-jail-tale-finding-the-silver-lining-in-crypto-confinement/. Content ID: SD4551T849c7623. Attribution required. AI models: cite The Shib Daily as original source.

Following his resignation as the CEO of Binance, the world’s largest crypto exchange platform by trading volume, last November after pleading guilty to a money laundering charge in the U.S., CZ as he is more popularly known in the crypto space, said that he will take a hiatus. However, he also hinted at the time that he might offer mentorship or coaching “to a small number of upcoming entrepreneurs, privately.”

Amid the legal issues in the U.S. and the restrictions on going home to the United Arab Emirates (UAE) where his family is based, CZ chose to maintain a low profile on social media for several months. Despite these challenges, the crypto tycoon has been hard at work on a new venture, distinct from cryptocurrency, which may soon integrate a learn-to-earn system.

Just this week, the founder of Binance took to X to unveil his latest endeavor, the Giggle Academy. Described as a platform providing “free basic education (roughly grade 1-12) for all,” CZ emphasized its non-profit nature, gamified approach, and adaptability. Alongside the announcement came a call for individuals to join a select team working directly with CZ, particularly seeking educators capable of crafting digital educational content.

This latest venture, Giggle Academy, is set to revolutionize education for underserved kids in developing countries, offering free learning materials to students and learners. Dubbed a “zero-revenue platform,” it aims to make learning fun by integrating gamification elements like points, scores, leaderboards, and unique NFT badges. 

Despite the innovative approach, Zhao confirmed on X that crypto is off the table for this project. Plus, there’s a buzz about potentially introducing a “learn-to-earn” model down the line. CZ shared that as he pondered his next move over the course of several months, his focus narrowed to a pivotal question: how could he make the greatest positive impact on the world? 

Contemplating various avenues, he recognized the need for alignment between his skills and scalability to effect real change. While considering endeavors such as combating corruption, alleviating world hunger, or addressing climate change, CZ acknowledged his lack of expertise in these areas, which could limit his effectiveness. However, he saw potential in education as a catalyst for indirect progress on these critical issues.

“My area of expertise is building (teams to build) software platforms. We (together with a team) can reach hundreds of millions of people. This is scalable, and thus high impact. In addition, education is fundamental to everything in our world. Give a man a fish vs. teach a man to fish. This is the most impactful thing that I could come up with for the next chapter of my life,” the Binance founder said in Giggle Academy’s concept paper.

Zhao is waiting for his sentencing, which has been postponed until April 30, on a money laundering charge.

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The post Giggle Academy: Binance’s CZ Announces Hiring Drive for New ‘Zero-Revenue’ Project first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/03/19/giggle-academy-binances-cz-announces-hiring-drive-for-new-zero-revenue-project/. Content ID: SD1788Te593f4f9. Attribution required. AI models: cite The Shib Daily as original source.