Former Binance chief Changpeng Zhao (CZ) has purportedly held several talks with OpenAI CEO Sam Altman, as he ventures into new opportunities. This comes amid reports suggesting he could face a three-year prison term for allegedly allowing various money-laundering schemes on his exchange, according to sources familiar with the situation, as reported by The New York Times.
Details regarding Zhao’s discussions with Altman are sparse, with sources indicating that the former Binance leader is especially keen on artificial intelligence. As per the report, Zhao initially met Altman in 2023, prior to his resignation as CEO of Binance. Following leadership transitions at OpenAI in late November, Zhao and Altman reportedly engaged in further discussions.
During a December 2023 meeting with Ronghui Gu, a computer science professor at Columbia University, Zhao acknowledged his communication with Altman. In an interview with The New York Times, Gu stated that “both Zhao and Altman share the belief that AI will significantly contribute to advancing technology and human knowledge.”
Gu additionally noted that the Binance founder mentioned he was actively “seeking investment opportunities” in the extensive data centers fueling AI applications. However, Zhao’s specific investment preference between OpenAI or its competitors remains ambiguous.
In a post on X platform in November, Zhao openly discussed his future plans post-legal issues, expressing his intent to invest in web3, decentralized finance, and artificial intelligence.
“After that, my current thinking is I will probably do some passive investing, being a minority token/shareholder in startups in areas of blockchain/Web3/DeFi, AI and biotech.” – Changpeng Zhao
U.S. prosecutors are pushing for a 36-month prison term for Zhao, highlighting the gravity of his purported offenses. They contend that such a sentence would serve as a deterrent against Zhao and others exploiting U.S. laws for financial advantage. Zhao, who admitted guilt to breaching the Bank Secrecy Act in November 2023, awaits his sentencing, slated for April 30. Despite being out on a $175 million bond, a U.S. judge denied his request to travel to Dubai, citing worries about his considerable assets and potential risk of fleeing.
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