Former Binance CEO Launches Educational Platform

Changpeng Zhao (CZ), the former CEO of Binance, has announced the launch of an educational platform called Giggle Academy.

My next project. @GiggleAcademy (No logo yet)

Free basic (grade 1-12 ish) education, for all.
No revenue.
Gamified.
Adaptive.

Read the Concept Paper at https://t.co/knqmZF0sQ8

We are HIRING. Small team, work directly with CZ.

— CZ ? BNB (@cz_binance) March 19, 2024

The project aims to provide free education from grades 1 to 12. According to Zhao, Giggle Academy is not profit-driven, offering an “adaptive” and “gamified” learning approach.

“Creating a high-quality and popular educational platform, completely free and accessible to all, is the most important thing I can do in the next chapter of my life,” reads a quote from CZ on the website.

Giggle Academy plans to use a system of points, ratings, and special badges in the form of non-fungible tokens to encourage students.

The former Binance CEO also announced hiring efforts. He is looking for “teachers who can create digital content.” Zhao clarified that launching a new token is not part of his plans.

In November 2023, CZ admitted to failing to maintain an effective anti-money laundering program at Binance while he was the head of the company. As part of an agreement with the U.S. Department of Justice, he agreed to pay a $50 million fine and step down as CEO.

The former exchange head posted a $175 million bail to remain free until sentencing. However, prosecutors have requested a travel ban from the U.S., fearing he might flee.

In March 2024, Zhao surrendered his Canadian passport ahead of sentencing. Earlier, the court postponed the hearing date to April 30 without providing a reason for the delay.

Federal guidelines in CZ’s case provide for a maximum penalty of 18 months in prison. Prosecutors have stated their intention to seek a harsher sentence, with a maximum term of 10 years being discussed.