Binance's Zhao runs crypto empire from Abu Dhabi after prison term
Changpeng Zhao, convicted for managing Binance as a crypto haven, now rules the industry from Abu Dhabi while advising governments.
Crypto billionaire Changpeng Zhao, worth an estimated $164 billion AUD, lives in a nine-bedroom Abu Dhabi villa with four bodyguards, a chef and a yacht. US authorities brought a criminal case against him for managing Binance, depicted in court papers as a haven for Russian money laundering, Iranian sanctions evasion and Islamic State terrorism.
Zhao pleaded guilty and served a four-month prison sentence. Zhao returned to Abu Dhabi as Binance's majority shareholder and the most powerful figure in the industry, now flying around Asia on a private jet advising governments on crypto regulation.
Trump pardoned him last year, a move widely criticised as a quid pro quo after Binance partnered with Trump's World Liberty Financial, which generated $799 million for Trump last year. Zhao portrays himself as a naive outsider overwhelmed by Binance's explosive growth.
- $164 billion AUD
- Zhao's net worth
- Four months
- Prison term length
- $799 million last year
- World Liberty revenue to Trump
Why it mattersA convicted criminal remains the most powerful person in crypto and influences global regulation, raising questions about accountability and consequences.
AustraliaNo direct Australian effect yet, but Binance's influence on crypto regulation worldwide affects Australian investors and any future Australian crypto regulation.
✓ Claims checked against the source and corrected before publish. checked 43 min ago
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