CZ Announces He Will Not Launch New Crypto Projects
Changpeng Zhao, former CEO of Binance, announced he will not launch new crypto projects, focusing instead on mentoring other entrepreneurs in the industry. He emphasized innovation and building within the community but clarified:
I won’t start a new project. Will help other founders.
- Bitcoin experienced volatility, dropping 15.70% from $99,336 to $83,754 between February 21 and 26, before rebounding by 3.40% to around $86,300.
- CZ confirmed he has not sold any of his crypto holdings amid market fluctuations.
- Samson Mow, CEO of JAN3, dismissed fears of Bitcoin falling below $70,000, stating the bull market is beginning.
CZ's portfolio shows strong confidence in Binance Coin, with 98.48% of his holdings in BNB, 1.32% in Bitcoin, and minimal amounts in stablecoins. His shift from leadership to advisory includes:
- Involvement with YZi Labs to support tech innovation.
- Philanthropic efforts, including a donation of 150 BNB (~$100,000) to victims of the LIBRA memecoin scam.
- Initiation of Giggle Academy, focused on educational resources for underprivileged children.