CZ's Crypto Comeback: Binance's BNB Chain Surges Amidst Controversy

Changpeng Zhao's Influence on Binance Sparks Controversy Despite Official Ban

Changpeng Zhao (CZ), the co-founder and former CEO of Binance, remains a dominant force in the crypto industry despite officially stepping down as part of his plea deal with the US Department of Justice (DOJ). While he publicly committed to focusing on his educational initiative, Giggle Academy, much of his online presence still revolves around Binance’s BNB Chain. This has led to growing speculation about his continued influence on Binance’s direction and the crypto market at large.

CZ’s Official Exit and Post-Prison Plans

CZ was forced to step down from Binance in 2023. He agreed to a lifetime ban on managing the company as part of his settlement. Following his release, CZ announced that he would focus on Giggle Academy, an educational project to provide free learning resources worldwide. The Binance executive had aggressively promoted the initiative before his arrest. One of Giggle Academy’s objectives is to teach kids how to avoid rug pulls.

However, his social media activity tells a different story—one in which BNB Chain remains a primary focus of his discussions. Despite his departure, CZ’s influence over BNB Chain is undeniable. His outspoken interest in BNB Chain has led to a significant surge in its trading volume, surpassing Solana.

Crypto Community Reacts to CZ’s Influence on BNB Chain

Meanwhile, CZ’s continued presence in crypto has sparked both admiration and skepticism. Supporters see him as a visionary leader, suggesting that Changpeng Zhao’s involvement has been instrumental in its growth. However, others argue that his influence is reckless. DeFi researcher Leviathan accused CZ of driving speculative frenzies.

Amidst the controversy, it is impossible to ignore Binance Labs’ recent rebranding to YZi Labs. CZ described the rebranding as an expansion of vision. However, speculation is that the move allows CZ to rejoin without violating his ban from Binance’s management. While the official narrative positions YZi Labs as independent, many believe it is a backdoor for CZ’s continued influence in crypto.