Binance Founder CZ Set for Release From Jail This Week – Will Bitcoin Prices Rise?

At the end of this week, on Sunday, September 29, Changpeng Zhao (CZ), the well-known founder of the Binance exchange and creator of the BNB token, is set to be released from prison after serving a four-month sentence.

### CZ’s Release and the Anticipation of “Uptober”

Many cryptocurrency enthusiasts anticipate that CZ’s release will serve as a significant catalyst for growth in the crypto market. Additionally, the community is buzzing about the onset of “Uptober.” Historically, October and November are bullish months for cryptocurrencies, often followed by a “Santa Claus rally” in December. Over the last decade, Bitcoin has typically seen substantial gains during this period.

Recent trends show that Bitcoin and the stock market began to rise last week after the Federal Reserve raised interest rates by 50 basis points on Wednesday.

CZ began his prison term in early June, following charges of violating U.S. securities law. He subsequently stepped down as the CEO of Binance, which faced a hefty fine from the U.S. Department of Justice.

The newly appointed CEO of Binance, Richard Teng, has assured the community that CZ will be barred from running the exchange for life, as stipulated by the Department of Justice.

### CZ’s Future Endeavors After Binance

Before his incarceration, CZ expressed that he did not wish to return to entrepreneurship and would focus on being a crypto investor, potentially offering mentorship to a select group of individuals. He also mentioned interest in exploring the integration of cryptocurrency into the biotech sector.

However, he has since initiated an online educational project called Giggle Academy, aimed at teaching underprivileged children about finance, blockchain, English, and math at no cost. This initiative launched shortly before his prison term began.

Additionally, CZ has hinted at plans to write a book during his time in prison, given the opportunity for reflection and writing.