Binance founder Changpeng “CZ” Zhao, the self-proclaimed “King of Crypto”, has just emerged from his cushy four-month vacation in a U.S. correctional facility, courtesy of a sweetheart deal with the Department of Justice. It seems that CZ’s “crime” was not actually committing any, but rather, his exchange’s failure to stop the rampant criminal activity that took place on its platform. Talk about a slap on the wrist!
CZ copped a plea, forked over a paltry $50 million fine, and agreed to step down as Binance’s CEO (but not before securing a 90% stake in the company, because who needs to actually run a business when you can just collect dividends?). The U.S. government, in a stunning display of leniency, forced Binance to cough up a mere $4.3 billion in settlement fees – a drop in the bucket for a company that’s raking in billions. And yet, CZ still manages to hold onto his estimated $61 billion net worth, making him the 25th richest person in the world. Talk about a get-rich-quick scheme!
But wait, there’s more! Just before his sentencing, CZ announced his next “project”: Giggle Academy, an education platform that’s somehow not generating any revenue (because, you know, it’s not actually a real business). And now that he’s free from his “sentence”, CZ can devote his full attention to this “venture”, which is actively hiring (for jobs that probably don’t pay very well). Because what’s a billionaire’s time worth, anyway?
Source link
