Former Binance CEO Changpeng Zhao teases new forthcoming project

Changpeng Zhao, former CEO of the crypto exchange Binance, teased a new project on Monday. 

The project will be educational and have no new tokens, Zhao wrote on the social media platform X. Other than that, he said, more details soon." 

Zhao stepped down as CEO of Binance in November 2023 in a plea deal with the U.S. Department of Justice. Zhao said he would plead guilty to charges related to violating the Bank Secrecy Act and agree to pay a $50 million fine. The Bank Secrecy Act requires businesses to help the government prevent money laundering and other financial crimes.

Despite leaving Binance, Zhao's wealth grew by nearly $25 billion last year. 

Binance is the top crypto exchange in terms of spot volume. As of March 18, Binance brought in $727.46 billion, or 46%, of this month's $1.57 trillion total spot market volume, The Block's Data Dashboard shows. 

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