Changpeng Zhao, former CEO of crypto exchange Binance, teased a new project on Monday.
The project will be educational and will not have new tokens, Zhao wrote on social media platform X. Other than that, he said, more details soon.
Zhao resigned as CEO of Binance in November 2023 as part of a plea deal with the US Department of Justice. Zhao said he would plead guilty to charges related to violating the bank secrecy law and agree to pay. a fine of 50 million dollars. The Bank Secrecy Act requires companies to help the government prevent money laundering and other financial crimes.
Despite his departure from Binance, Zhao’s wealth increased by almost $25 billion last year.
Binance is the leading crypto exchange in terms of spot volume. As of March 18, Binance had brought in $727.46 billion, or 46%, of this month’s total spot market volume of $1.57 trillion, according to The Block’s data dashboard.
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