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Home»BLOCKCHAIN NEWS»Binance’s CZ is discussing AI investment with Sam Altman
BLOCKCHAIN NEWS

Binance’s CZ is discussing AI investment with Sam Altman

By Crypto FlexsApril 30, 20243 Mins Read
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Binance’s CZ is discussing AI investment with Sam Altman
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Binance founder Changpeng Zhao appears to be eyeing investments in AI-focused data centers as part of his exploration of new investment opportunities.

Former Binance President Changpeng Zhao (CZ) has held multiple discussions with OpenAI CEO Sam Altman despite facing a possible three-year prison sentence for allowing various money laundering schemes on his exchange, The New York Times. It is known that He learned this by quoting people familiar with the matter.

Details about Zhao and Altman’s conversation remain sparse, with sources only saying that the former Binance representative is particularly interested in artificial intelligence. According to the report, Zhao first met Altman in 2023, before he stepped down as Binance’s CEO. After OpenAI’s leadership changed in late November, Zhao and Altman held another round of talks, the people said.

In December 2023, Zhao confirmed that he had communicated with Altman during a meeting with Ronghui Gu, a computer science professor at Columbia University. In an interview with the New York Times, Gu said that both Zhao and Altman “believe that AI will help a lot in realizing the advancement of technology and human knowledge.”

Gu also noted that the Binance founder was “looking for opportunities” to invest in large-scale data centers that support AI applications, but added that it was still unclear as to Zhao’s preferred investment target: OpenAI or its competitors.

Today I stepped down from my position as CEO of Binance. Of course, letting go of my emotions wasn’t easy. But I know it’s the right thing to do. I made a mistake and I need to take responsibility. This is what’s best for our community, Binance, and myself.

Binance is no longer a baby. that…

— CZ 🔶 BNB (@cz_binance) November 21, 2023

in X post Last November, Zhao spoke publicly about his plans after the legal troubles, citing his interest in investing in Web3, decentralized finance and artificial intelligence.

“After that, we currently believe we will make passive investments as minority tokens/shareholders in startups in the blockchain/Web3/DeFi, AI and biotech sectors.”

Zhao Changfeng

Meanwhile, U.S. prosecutors requested Zhao be sentenced to 36 months in prison, saying the criminal charges were serious. They argue that such a punishment would prevent Zhao and others from ignoring U.S. laws for financial gain. Zhao, who pleaded guilty to violating the Bank Secrecy Act in November 2023, is currently awaiting sentencing on April 30. Despite being released on $175 million bail, his request to travel to Dubai was denied by a US judge due to concerns: His considerable wealth and potential flight risk.

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