Binance Founder CZ Remains in Custody, Transferred to LA Halfway House

Here is the revised version of the news article with Decrypt as the source:

Despite the excitement on Crypto Twitter, Binance founder Changpeng Zhao (CZ) is not yet free from custody. According to a report by Decrypt, Zhao has been transferred from a minimum-security prison in Southern California to a halfway house in Los Angeles but remains under U.S. government supervision. The transfer to the Residential Reentry Management (RRM) Long Beach facility sparked premature celebrations on social media, with some mistakenly believing Zhao had been released.

While Zhao is technically out of prison, he is still in custody and not yet free to move as he pleases. The U.S. Bureau of Prisons has confirmed that Zhao’s full release is scheduled for September 29. Until then, he will participate in a reentry program designed to help inmates reintegrate into society.

Zhao’s legal issues stem from his guilty plea for violating U.S. anti-money laundering laws in an attempt to protect Binance, the world’s largest cryptocurrency exchange. As part of his settlement, Zhao is barred from managing Binance for three years. Despite these challenges, Zhao remains one of the wealthiest figures in crypto, with an estimated net worth of $47.7 billion. He has expressed interest in focusing on other ventures, such as education and passive investing, during his time away from Binance.

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