Founder and Former CEO of Binance, Changpeng "CZ" Zhao is set to be released from Long Beach Residential Reentry Management (RRM) on September 29, according to the US Federal Bureau of Prisons. (BOP)
While fans did their own calculations and expected his release to fall somewhere in September, this is the first time that the COP has given a concrete confirmation of the date.
CZ started his 4 month sentencing at the Federal Correctional Institution Lompoc, a low security institution in California, and was later transferred to the Long Beach RRM in central California. RRM Long Beach is classed as a "halfway house", and it is rumoured to have no security level other than voluntary compliance to the rules of the house.
Prison or just a resort
Aside from the mystery of why CZ was given such as short sentencing, people were also curious about what CZ had been doing in prison. If he was able to pay his way to a shorter sentence, then could he also have bribed officers to make his time in prison as comfortable as possible?
A month ago, netizens picked up that CZ has been active on social media and has followed a Solana news account despite being in prison. This has made many wonder if CZ was really serving his sentence there just like any other inmates, or is he given special treatment because of who he is ? For all we know, he could have been given an electronic device, such as a computer or tablet for him to freely use while he is in prison.
Other speculations that Zhao could have given someone else his X account, and it was someone else who had followed the Solana account. His X account also could have hacked, which happens way too often on X.
CZ continues to influence the market, even from afar
With his impending release looming, the crypto community is wondering what his release would mean for the market. Some believe his deep expertise and innovative spirit could bring a new chapter for Binance or perhaps a new venture altogether.
Many fans have posted on their social media, voicing their own speculations of what they could expect after CZ's release. Many are even equating the release of CZ with Market release. Does this mean that we can expect a bullish market following the release of CZ?
Others say that the release of CZ falls at the crosspath of regulatory scrutiny and the crypto industry's growth. They are even saying that his release might even set precedents of how crypto exchanges operate globally.
Some have also picked up a tweet that CZ made before his sentencing. In his video, he openly proclaimed that he would be making a big investment in SPX. Fans are now resurfacing this tweet, and debating if CZ's prediction on the SPX market would be accurate.
All these twitter posts about CZ's release prove that CZ remaisn a relevant and influential figure in the cryptocurrency market. It also underscores the anticipation and speculation surrounding what could happen after his release.
Regulation being an inevitable part of crypto
Needless to say, CZ's return could be a game-changer. With unparalleled expertise and vision, I am sure CZ will still remain a prominent figure in the crypto world. However, the industry must brace for a future where regulatory compliance becomes the norm rather than the exception. This could lead to a more mature market, but one that must balance innovation with responsibility.
Bitcoinist
