Zhao Unveils Blockchain, AI Plans as BNB Bulls Remain Cautious

Coinspeaker
Binance Founder Changpeng Zhao Reveals Blockchain, AI Initiative; BNB Bulls Await Developments

Following his recent release from prison custody last week, Binance co-founder Changpeng Zhao (CZ) has shared his new ambitions for the future. In a recent post on the X platform, Zhao expressed his intention to continue investing in the blockchain industry, as well as in artificial intelligence and biotechnology.

In his initial detailed communication on the X platform, Zhao noted that he will maintain his commitment to the non-profit educational initiative Giggle Academy. He mentioned:

“Giggle Academy is progressing well and will play a significant role in my life moving forward. I will keep investing in blockchain/decentralized technologies, AI, and biotech. I am a long-term investor focused on impact rather than returns. Additionally, I plan to allocate more time and funding to charitable causes (and education). I have a few preliminary ideas.”

Moreover, Changpeng Zhao characterized himself as a long-term investor who prioritizes “impact over returns.” Recently, CZ has endured several challenging months, particularly with Binance facing a $4.3 billion penalty in November 2023.

The exchange encountered allegations of failing to implement measures to mitigate anti-terror and money-laundering practices. CZ himself accepted a personal fine of $50 million and endured four months of prison custody. However, on September 27, Zhao was released from a correctional facility in California.

gm, the food tastes so good… And what a luxury to enjoy more than one piece of fruit each day!

I realize many of you have various questions. I may not have all the answers.

Let me relax for a bit, then I’ll determine the next steps. There are always more opportunities in… https://t.co/9hvgp8Bo97

— CZ BNB (@cz_binance) September 29, 2024

BNB Bulls on Standby After Zhao’s Release

After Zhao’s release, bulls attempted to push the BNB

BNB
$580.3



24h volatility:
-2.2%


Market cap:
$84.62 B



Vol. 24h:
$954.54 M

price soaring past the $600 mark shortly after CZ’s release. However, ongoing global macroeconomic uncertainties have once again pulled BNB below the $600 threshold, as it retests the neckline of the daily closing trendline.

Bitcoin

BTC
$64 313



24h volatility:
-1.9%


Market cap:
$1.27 T



Vol. 24h:
$21.65 B

and the overall crypto market are experiencing some selling pressure amid concerns regarding potential rate hikes by the Bank of Japan. To regain upward momentum, BNB must first reclaim a resistance level of $616. Surpassing this level could pave the way for a rally towards $800.

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Binance Founder Changpeng Zhao Reveals Blockchain, AI Initiative; BNB Bulls Await Developments