The crowd at Bitcoin MENA fell unusually quiet as one of the much-anticipated conversations began. Former Binance CEO Changpeng Zhao (CZ) opened up about his time in prison, a chapter that followed his guilty plea to U.S. federal charges of money-laundering violations
CZ’s story drew in listeners, who noted that his sentence was “the first of its kind.” After revisiting the ordeal that shook the crypto industry, he eased into a broader conversation about where Bitcoin is headed next and how he sees the future of investing.
Speaking with Brandon Green, CEO of Bitcoin Inc., CZ characterized the current adoption cycle as different from earlier waves. He believes that the current cycle shows a high level of institutional involvement, whereas previous cycles were dominated by retail investors.
The discussion brought to light how unpredictable Bitcoin’s adoption trajectory is. CZ further added that the integration of the crypto industry with the conventional payment infrastructure could lead to growth.
The discussion ended with Brandon taking a sarcastic jibe and asking if Michael Saylor or CZ is the bigger Bitcoin market mover. With the audience keen to know the answer, CZ replied with a rather neutral tone, saying that Saylor is the king of Bitcoin, while he himself is trying to focus more on the larger crypto segment.
CZ’s Imprisonment Targeted Most of The Crypto Community
CZ’s imprisonment saw the whole crypto world take the brunt of federal regulations. Market participants characterized the move as an “attack” on the crypto segment.
In his address at Bitcoin MENA, CZ argued that the regulatory warnings were issued for five years, making Binance the most scrutinized exchange at that time. But since it was the first incident of its kind, the platform had to be the first to deal with regulators.
CZ said, “I had adopted a pretty simple approach. Whatever challenges we face, we try to solve them. I honestly didn’t think I would go to jail in the U.S., because no one had ever gone to jail for a single violation of the Banking Secrecy Act.”
The main bone of contention between the former Binance CEO and the regulators stemmed from the difference of opinion around Binance’s operational functionality.
As the allegations grew, both market participants and CZ himself anticipated that he might face six months of home confinement. The prison term came as rather surprising news for the crypto market. However, as per CZ, the worst part of the jail time was the “no internet” policy of the lockup.
Talking about his reason to plead guilty, CZ mentioned that since he didn’t know if the regulators were going to slap another charge on him, his best possible approach was to surrender himself. He further explained that his refusal to surrender could result in many more lawsuits and charges being filed against other Binance officials and employees, creating a devastating impact on people and their families.
A Sense of Relief and a Vision for Crypto: CZ at Bitcoin MENA
Talking briefly about Donald Trump’s special pardon, CZ compared the gesture to the act of freedom. He quoted, “It was an emotional thing to have happened. Firstly, I feel a sense of relief and justice. It actually changed my perception of the United States as well, because it just feels like the U.S. claims to be about freedom, democracy, etc.”
“I think when that happened, I just felt a sense of release, a relief that, you know, the U.S. is now a fair, just country again, at least from my perspective. Now, I want to help make the U.S. the capital of crypto again. So there’s more work to do,” he explained.
Bear Market Not Likely For 2026
One of the biggest questions that Bitcoin market participants have right now is whether 2026 will be a bearish year or if there will be some relief. However, CZ believes that the bear market is not likely to occur in 2026. According to him, pro-crypto leaders like Donald Trump will likely help boost the regulatory environment, giving Bitcoin the much-needed surge in the coming year.
CZ explained it like this: normally, crypto follows a four-year cycle, with prices peaking around December and a “crypto winter” hitting in the year or two after. But this time, he thinks things might be different. According to him, there’s another factor in play, President Trump’s pro-crypto influence, which could shake up the usual pattern and change how the market behaves.
CZ even proposed the possibility of a “super cycle” for crypto and Bitcoin. He suggested that the next cycle would deviate from past trends by pointing to possible U.S. rate reduction and quantitative easing as elements that could spur liquidity into cryptocurrency markets.
However, the network’s grassroots beginnings are not replaced by the institutionalization of Bitcoin. CZ emphasized that the global reach of Bitcoin is crucial to its identity, with retail holders still constituting the majority.
He believes that President Trump is using the stock market as a benchmark, thereby placing cryptocurrency on par with equities. With more rate cuts coming for the market and quantitative easing taking place, the stock market will likely see a pump. These developments will also boost Bitcoin in the long run.
CZ To Focus on Giggle Academy; No Plans to Return To Binance As Of Now
CZ says he’s putting his energy into Giggle Academy for now, with no plans to return to Binance. He describes Giggle Academy as a free education platform for people who aren’t familiar with technology. Talking about why he chose this path, CZ said he’s not driven by fame or legacy. Having recently pleaded guilty to a federal crime, he’s focused on handling those challenges, but he stressed that integrity and reputation mean a lot to him. “There’s no fraud; no users got hurt,” he said. For him, that’s what truly defines his reputation; fame and legacy are secondary.
CZ’s Address Leaves the Audience With a Sense Of Optimism
People who heard CZ speak at Bitcoin MENA were feeling exceptionally optimistic. Even though he talked about his time in prison, everyone who heard him talk about innovation, honesty, and the future of crypto could relate. Many people left feeling inspired, seeing his strength and vision as a good sign for the future of the industry.
