Embattled Ex-Binance CEO CZ Mulls New Crypto Project With “No New Tokens”

Changpeng Zhao, Binance’s embattled ex-CEO, has announced plans to roll out a new Web 3 project involving “no new tokens” amid money laundering charges in the US.

According to a post on X (formerly Twitter), Zhao’s latest project is focused on providing free basic education without geo-restrictions for learners. Dubbed Giggle Academy, the non-profit educational project will be “gamified” and “adaptive” to revolutionize the concept of online learning.

“Building a high-quality and sticky education platform that is entirely free and accessible to all is the most impactful thing I could do for the next chapter of my life,” said Zhao.

Giggle Academy’s concept paper reveals that most courses will target learners within grades 1-12 but will not be limited to children. Per the paper, 75% of the world’s illiterate adults are concentrated in sub-Saharan Africa, West Asia, and South Asia with the project keen on reducing the figures.

The project is expected to cover the core subjects of Mathematics and Science and then include additional courses in distributed ledger technology (DLT) and emotional intelligence.

“Let’s make basic education accessible and entertaining to children all over the world,” said Zhao. “Free basic (grade 1-12 ish) education for all. No revenue, gamified, adaptive.”

While the exact launch date for the project remains unknown, interested persons are encouraged to join a waitlist to get early access. Currently, Giggle Academy is hiring a clutch of game developers and content specialists in education to bolster its ranks, expected to work directly with CZ.

Despite the frenetic push for talent, Zhao says Giggle Academy’s team will be “small” and nimble for improved communication and productivity.

The project has since gained significant interest in the Web3 space, with over a dozen memecoins mimicking Giggle Academy to ride the wave. Experts have hailed the ambitious project as a step in the right direction to bring lasting change in the world, with initial reception hinting at a long-term positive outlook.

Unfazed by money laundering charges

Zhao faces up to 18 months in prison following his guilty plea in late 2023 for breaching US anti-money laundering (AML) requirements. The embattled founder is expected to be sentenced on April 30 after paying fines above $50 million and stepping down from his role as Binance CEO.

Despite his compliance, Zhao has been tagged a flight risk by US courts given his “minimal ties to the US” and citizenship in a country without an extradition arrangement with the US. However, Zhao has maintained a calm facade since the crackdown by US law enforcement, only taking a brief hiatus from social media at the start of 2024.