Binance co-founder Changpeng Zhao to launch Giggle Academy amid legal woes Binance co-founder Changpeng Zhao to launch Giggle Academy amid legal woes
The new venture aims at providing free basic education for the underprivileged.
2 min read
Updated: Mar. 19, 2024 at 12:59 pm UTC
Web Summit / CC BY 2.0 / Flickr. Remixed by CryptoSlate
Changpeng Zhao, the embattled co-founder of Binance, wants to launch a non-profit educational platform called Giggle Academy.
Zhao had earlier hinted about the project in a cryptic March 18 post on X (formerly Twitter), where he wrote:
“Launching a new project. No, no new tokens. Education project. More details soon.”
What is Giggle Academy?
According to the project’s concept paper, Giggle Academy aims to address educational disparity by focusing on underprivileged populations without access to formal schooling.
The initiative aims to offer free basic education to all through an engaging and personalized experience. The platform will be accessible online and generate no revenue.
While the academy does not seek to replace existing educational systems, Zhao clarified that it will offer complementary instruction in fundamental and advanced subjects not typically covered in traditional curricula.
Zhao expressed his commitment to Giggle Academy, stating that it represents the most impactful endeavor he could undertake. He said:
“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.”
Meanwhile, the project has garnered significant praise from the community, with one user likening it to the revolutionary impact of Satoshi Nakamoto’s Bitcoin whitepaper. Additionally, volunteers have stepped forward to contribute in various capacities, including designing a logo for the academy and testing the platform upon its launch.
Legal battles
Zhao currently finds himself entangled in a legal battle in the United States, facing the possibility of an 18-month sentence for money laundering activities.
Last November, Zhao stepped down as Binance CEO as part of a negotiated settlement with US authorities. This agreement also entailed Binance, the largest crypto exchange by trading volume, withdrawing from the US market and paying a record fine of $4.3 billion.
After his resignation, Zhao has remained within the jurisdiction of the United States, as authorities have restricted his movements amid concerns about him potentially fleeing the country before his impending sentencing, scheduled for next month.
Last week, a US court ordered him to surrender his Canadian passport, confine his movements within the boundaries of the United States, and notify the court’s pretrial services before embarking on any domestic travels.
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Binance
Binance is a global cryptocurrency exchange that provides a platform for trading more than 100 cryptocurrencies.
Changpeng Zhao, popularly known as “CZ,” is a notable figure in the cryptocurrency world, primarily for founding and leading Binance, the world’s leading cryptocurrency exchange by trading volume.
