Changpeng “CZ” Zhao, the founder of cryptocurrency exchange Binance, who stepped down as CEO in November in a settlement on federal counterfeiting charges, announced Monday that he plans to launch a new nonprofit online education platform called Giggle Academy.
“Let's make elementary education accessible and fun for kids around the world,” he tweeted, explaining that Project Giggle is hiring and that one of the perks is the chance to work directly with him.
“Free basic (grade 1-12ish) education for all, no income, equitable, adaptive,” he explained, providing a link to Project Giggle's concept paper and website.
The announcement comes as Zhao awaits sentencing on charges of failing to maintain an effective anti-money laundering program at Binance. In November, Zhao pleaded guilty and agreed to step down in a plea deal with the US Department of Justice. Binance has been ordered to pay a $4.3 billion fine and completely withdraw from the United States market.
Zhao faces 10 to 18 months in prison under federal sentencing guidelines, with sentencing extended to April 30. As part of the plea deal, Zhao paid a $50 million fine and is currently free on a $175 million bond. A federal judge has imposed a travel ban on him from leaving the US, deeming him a flight risk.
Despite the legal problems, Zhao seems enthusiastic and optimistic about Project Giggle and its cause. The concept paper outlines its ambitious vision to make “basic education accessible, addictive and adaptive, for today's unreached children, around the world, for free”.
Citing statistics, the newspaper said, “More than 75% of the world's 781 million illiterate adults are in South Asia, West Asia and sub-Saharan Africa, and women represent two-thirds of all illiterate adults worldwide.” Giggle Academy aims to offer free online courses for grades 1-12 in majors as well as topics such as emotional intelligence, finance and blockchain.
The no-cost, no-revenue initiative draws support and interest through gamification to encourage student engagement, remedial curriculum to ensure student success, subject specialization, and a blockchain-based system of “soul-based tokens” to verify student achievement.
Crypto Twitter certainly had an idea.
A great man gives free education to the world after gift [Crypto Twitter] An unprecedented supercycle launch,” replied a self-described retired businessman. “respect”
“Great initiative CZ—education is the only way to make a difference in this world.” Kashif Raza, founder of education platform Bitinning added. “The 9 pages of Satoshi's curriculum changed the world forever.
Another follower quickly launched Solana's memecoin, though it seems there are now more than a dozen on the Giggle brand.
“Building a high-quality, immersive learning platform that's completely free and accessible to everyone is the most important thing I can do for the next chapter of my life,” Zhao said in a quote on the Giggle Academy website. Job openings for Senior Game Developer and Gamification Product Manager.
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