CZ rejects Binance return as he pivots to education, investment, and state-level crypto plays

The long-running CZ Binance return speculation is finally over. Changpeng Zhao, better known as CZ, has made it clearhe will not return to lead Binance, even after receiving a presidential pardon that removed his legal restrictions. Speaking on the sidelines of the World Economic Forum in Davos, the Binance founder told CNBC’s Andrew Ross Sorkin on Sunday that he is done running the exchange he built into the most prominent crypto exchange.

That statement closes the door on months of market chatter. Many expected the pardon to set the stage for a dramatic comeback. Instead, CZ is signalling a different future for himself and, by extension, for Binance. The founder-led era is over. The company is now firmly in the hands of its current co-CEOs, Richard Teng and Yi He – appointed late last year – and a more conventional corporate structure.

For Binance, the implications are significant. Under Teng, the exchange is prioritising regulatory alignment, institutional trust, and operational discipline. This is a sharp contrast to the breakneck, founder-driven expansion that defined Binance’s rise. The shift reduces headline risk, but it also raises questions about whether Binance can retain its cultural edge without its most recognisable figure.

CZ Binance return ends as focus shifts beyond exchanges

CZ’s refusal to return should not be read as withdrawal from crypto. Rather, it marks a pivot in how he exerts influence.

One of his most visible new projects is Giggle Academy, a free online learning platform for children from primary to secondary school. The platform focuses on literacy, storytelling, vocabulary, and basic numeracy, with some emphasis on emotional intelligence and financial awareness. CZ describes it as a passion project, supported by AI-driven personalisation and a lean team.

For a crypto founder, the move into education may seem unconventional. But it offers clear advantages. Education is largely insulated from the regulatory scrutiny that continues to shadow financial platforms. It also allows CZ to apply technology at scale without the political and compliance costs that now define crypto infrastructure. 

For now, Giggle Academy looks more experimental than disruptive, but it reflects a deliberate step away from trading-led growth.

Capital allocation is another pillar of CZ’s post-Binance strategy. Through YZi Labs, his family-office-turned-fund, managing over $10 billion, he is deploying capital selectively across crypto infrastructure, developer ecosystems, and adjacent technologies. 

He holds mostly BNB (98% of his portfolio) with a sliver in Bitcoin, avoiding active trading. Recent moves include backing Genius Trading, Vana Network, and a $1 billion commitment to BNB developers. A $2 million investment in Aster, a biotech play, spiked its token 35%.

Rather than chasing speculative trades, recent investments point towards long-term bets: developer grants, protocol tooling, and real-world integrations. CZ’s market influence remains intact. His endorsements still move tokens and capital flows, underscoring that stepping away from Binance has not diminished his reach.

Advising governments on RWA tokenisation

The most consequential shift may be CZ’s growing role as an adviser to governments. He has confirmed discussions with multiple countries exploring asset tokenisation, from infrastructure financing to digitised ownership of state-backed assets. According to ARK’s “Big Ideas 2026” report, $11 trillion worth of Real-World Assets (RWAs) will be tokenized on-chain by 2030.

Tokenisation has become one of the few crypto narratives that regulators and policymakers are actively willing to engage with. It promises efficiency, liquidity, and transparency without challenging state control. CZ argues that trillions of dollars in illiquid assets could be unlocked through blockchain-based rails.

This advisory role suits his current position. It allows him to influence how crypto is integrated into national systems without assuming operational responsibility. 

CZ has said his legal troubles changed his perspective. He has expressed regret over strategic decisions that exposed Binance to US enforcement and insists he has no desire to relive that chapter. With Richard Teng and Yi He running Binance, the exchange moves forward without CZ’s direct involvement.

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