Binance Founder CZ Gained $12B Overnight When Trump Won And Now Shares His Future Plans After Prison

When Donald Trump clinched victory in the U.S. presidential election, the world of cryptocurrency lit up significantly. Apart from Elon Musk, one of the biggest winners of the night was Binance founder Changpeng Zhao, better known as CZ. 

Don't Miss:

• 1 in 4 Americans own a share of Bitcoin according to NASDAQ — this platform touts returns as high as 12.5% APY and is giving $100 in welcome rewards if you sign up today.
• ‘Scrolling to UBI': Deloitte's #1 fastest-growing software company allows users to earn money on their phones – invest today with $1,000 for just $0.25/share

Almost instantly, according to Bloomberg, CZ’s net worth skyrocketed by $12 billion, bringing his total net worth to an estimated $53 billion. The jump in crypto prices, triggered by Trump’s win, gave the billionaire a major boost after a year filled with legal troubles and a stint in prison.

CZ made his first public appearance recently at a massive event in Dubai, where fans greeted him like a superstar. Even though he's fresh out of prison, CZ isn’t planning to return to the driver's seat at Binance anytime soon – and he’s okay with that.

Trending: Over the last five years, the price of gold has increased by approximately 83% — Investors like Bill O’Reilly and Rudy Giuliani are using this platform to create customized gold IRAs to help shield their savings from inflation and economic turbulence. 

According to Bloomberg, CZ spoke about his time away from the company, his new focus and his surprising lack of desire to be Binance’s CEO again. He's already spent seven years leading the crypto exchange and now he says, “That chapter is that chapter.” CZ admitted that while he's received offers to buy out his stake in Binance, he hasn’t decided what to do next. He's just another shareholder, no longer the guy calling all the shots.

During his four months in a U.S. prison, he kept busy by working out, writing a book and chatting crypto with fellow inmates. Since leaving, he has been devoting time to various endeavors, such as the nonprofit educational app Giggle Academy and investigating prospects in biotech and artificial intelligence.

Despite stepping back from day-to-day leadership, CZ’s influence on Binance isn't gone. His shareholder rights remain intact and Binance must occasionally consult him. But CZ insists that these days, he's just there to provide “historical context” when asked and he has no burning desire to take the helm again. He says the current CEO, Richard Teng, is leading Binance into a new era – without CZ’s heavy involvement.

See Also: Deloitte's fastest-growing software company partners with Amazon, Walmart & Target – You can still get 4,000 of its pre-IPO shares for with $1,000 for just $0.25/share

As for his time in prison, CZ readily shared some of the details, saying that, locked up in California's Lompoc facility, which is known for housing white-collar criminals, he made friends with other inmates, including one serving a long sentence for bank robbery. They worked out together and CZ tried to help him connect with pro bono lawyers. Despite the rough conditions – bad food and strip searches included – CZ seems to have taken it all in stride.

According to CZ, his life is “a lot more relaxed.” Although he no longer feels the same strain, he remains attached to Binance even now that he’s back home with his family. “It’s like a kid,” he said of the company, “once it grows up, it doesn’t need to be attached to me.”

For CZ, life after prison seems to be all about new beginnings, new ideas and letting the past stay where it belongs – in the past.

Read Next:

• This well known prop trading firm is offering 100% of your first $25,000 profit per account and 90% after that. Here's how to get a special 50% OFF CODE that lets you start out with monthly investments as low as $147 today.
• With over 7.8K investors including Meta, Google, And Amazon Execs — this AI Startup's valuation has skyrocketed from $5 million to $85 million in just three years. Be an early investor with just $1,000 for only $0.50/share today before the offer closes in 2 weeks.