Former Binance CEO Changpeng Zhao says he plans to launch an initiative to provide free education at the elementary and high school levels.
Zhao, also known as CZ, tells his 8.9 million followers on the social media platform X that he intends to launch the Giggle Academy to reduce adult illiteracy rates, which are disproportionately higher in South Asia, West Asia and sub-Saharan Africa.
Says Zhao,
“My next project: Giggle Academy (No logo yet). Free basic (grade 1-12 ish) education, for all. No revenue. Gamified. Adaptive. Read the concept paper at giggleacademy.com. We are hiring. Small team, work directly with CZ.”
The stated purpose of the project is:
“Make basic education accessible, addictive and adaptive, to the kids who don’t have access to them today, all around the world, for free.”
Zhao says the project is currently looking to employ those who can create digital educational content.
“We are looking for teacher(s) who can create digital content.”
He also says the effort will not involve a token launch.
“Launching a new project. No, no new tokens. Education project. More details soon.”
The announcement comes as Zhao is expected to be sentenced next month in the lawsuit brought against him by the U.S. Department of Justice, which claimed that the executive failed to maintain adequate anti-money laundering protocols.
Zhao, a Canadian national and a resident of the United Arab Emirates, is currently in the US and free on a $175 million bond. Zhao pleaded guilty in November and agreed to step down from Binance’s CEO post, in addition to paying a $50 million fine. Binance paid $4.3 million in restitution fees.
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