CandleFocus Binance Founder CZ to Leave Jail This Week – Will Bitcoin Price Surge?
2024-09-23
Author: Content Editor
The founder of Binance, Changpeng Zhao (CZ), is set to be released from prison on September 29 after serving a four-month sentence. Many in the cryptocurrency community believe this will drive growth for Bitcoin and other cryptocurrencies, as October and November are historically bullish months. Additionally, the recent increase in the interest rate by the Federal Reserve has already accelerated Bitcoin and the stock market. CZ's prison sentence was a result of violating U.S. securities law, leading to him stepping down as Binance CEO and the exchange paying a large fine. The new CEO of Binance, Richard Teng, has confirmed that CZ is banned from running the exchange for life. Despite initially stating he would not be an entrepreneur again, CZ launched an online educational project for underprivileged children and announced plans to write a book during his prison term.
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