Changpeng Zhao, the founder and former CEO of Binance, the world’s largest cryptocurrency exchange, released a statement following his 4-month prison sentence yesterday.

In his statement, Zhao expressed his gratitude for the interest and support shown and said that the crypto industry has now entered a new phase.

Binance founder used the following statements:

“I would like to thank everyone for your care and support, be it writing letters, showing support on X, or in any other form. They all mean a lot to me and keep me strong. I will do my time, conclude this phase and focus on the next chapter of my life (education). I will remain a passive investor (and holder) in crypto. Our industry has entered a new phase. Compliance is super important. A silver lining of this whole process is that Binance has been under the microscope. And funds are SAFU. Protect users!”

Zhao was found guilty of violating the anti-money laundering law. Zhao, who pleaded guilty, had previously paid a fine of $50 million for this. He was also sentenced to 4 months in prison during the sentencing hearing yesterday. The former CEO of Binance will continue his education project called Giggle Academy after he is released from prison.