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Changpeng Zhao, the former CEO of Binance, is engaging in strategic talks with OpenAI CEO Sam Altman to explore potential investments in artificial intelligence. This collaboration comes as Zhao faces significant legal issues, potentially impacting his future ventures.
Ex-Binance CEO Changpeng Zhao Eyes AI Investments with OpenAI's Sam Altman Amid Legal Woes
According to the New York Times (via Crypto.News), citing sources familiar with the matter, ex-Binance CEO Changpeng Zhao (CZ) is reportedly in multiple discussions with OpenAI CEO Sam Altman as he explores new ventures. This is despite the possibility of facing three years in prison for allegedly allowing various money-laundering schemes on his exchange.
Zhao's discussions with Altman remain unknown, with sources stating only that the former Binance CEO is particularly interested in artificial intelligence. According to the story, Zhao first met Altman in 2023 before stepping down as CEO of Binance. According to sources, Zhao and Altman undertook another round of conversations following leadership changes at OpenAI in late November.
Zhao verified in December 2023, during a discussion with Ronghui Gu, a computer science professor at Columbia University, that he had spoken with Altman. In an interview with the New York Times, Gu reported that Zhao and Altman "believe that A.I. is going to help a lot in actualizing the development of technology and human knowledge."
Gu also stated that the Binance founder was "looking for opportunities" to invest in the vast data centers that support AI applications. However, Zhao's preferred investment target - OpenAI or its competitors — is unknown.
Changpeng Zhao Faces U.S. Legal Battle, Continues Focus on AI and Web3 Amidst Sentencing
In a November X post, Zhao publicly discussed his ambitions following his legal troubles, including his interest in web3, decentralized finance, and artificial intelligence.
Meanwhile, U.S. prosecutors are seeking a 36-month jail sentence for Zhao, emphasizing the gravity of his alleged crimes. They say such a punishment would dissuade Zhao and others from violating US laws for financial gain. Zhao, who pled guilty to breaking the Bank Secrecy Act in November 2023, awaits sentencing on April 30. Despite being released on a $175 million bond, a US judge denied his request to go to Dubai, citing worries about his enormous wealth and potential flight risk.
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