Changpeng Zhao launches a new project

Former Binance CEO Changpeng Zhao (CZ) announced the launch of the Giggle Academy learning platform.

The project is focused on providing free education from grades 1 to 12. According to Zhao, the project is not focused on profit, offering an “adaptive” and “gamified” approach to learning.

“Creating a high-quality and popular educational platform that is completely free and accessible to everyone is the most important thing I can do in the next chapter of my life,” CZ said in a quote on the site.

Giggle Academy plans to use a point system, ratings and special badges in the form of non-fungible tokens to reward students.

The ex-CEO of Binance also announced hiring. He is looking for “teachers who can create digital content.” Zhao clarified that the launch of a new token is not part of his plans.

In November 2023, CZ pleaded guilty to failing to maintain an effective anti-money laundering program at Binance as the head of the company. As part of an agreement with the US Department of Justice, he agreed to pay a fine of $50 million and resign from his position as CEO.

The former head of the exchange posted bail of $175 million to remain free until sentencing. However, prosecutors asked that he be barred from leaving the United States for fear of flight.

In March 2024, Zhao surrendered his Canadian passport before sentencing. Previously, the court postponed the hearing date to April 30, without explaining the reason for the postponement.

Federal guidelines provide for a maximum sentence of 18 months in prison in the CZ case. Prosecutors announced their intention to achieve a harsher sentence; the maximum was a 10-year sentence.


Source: Cryptocurrency

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