Changpeng Zhao’s four-month prison term is coming to an end, and he’s set to walk free on September 29. Binance is already planning a major surprise party in his honor, complete with new updates for both the exchange and the BNB token. And as a bonus, we might see crypto prices surge in line with the “Uptober” trend. While you’re probably wondering if we misspelled “October,” let us explain why Zhao’s release could bring cheer to the entire crypto industry.

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Source: US Federal Bureau of Prisons

Fun Fact: Zhao holds the title of being the richest person to ever serve time in a U.S. prison, with a net worth of $25.3 billion, according to the Bloomberg Billionaires’ Index.

CZ`s Future

No matter what CZ decides to do post-prison, he’s got loyal supporters waiting. CryptoQuant’s CEO, Ki Young Ju, jumped to his defense on September 22, passionately backing Zhao.

Ju described CZ as a pioneer and a “businessman worthy of respect,” noting that he has paid his debt to society. If CZ wants a fresh start, Ju argues, he should be given the chance.

Zhao’s brainchild, Binance, has continued to thrive under the leadership of Richard Teng. Though CZ is technically banned from resuming any direct CEO role, his influence is far from over. As the company’s majority shareholder, Zhao still wields the power to appoint key players to critical roles.

Teng, who Zhao handpicked as the new CEO, has announced that the company will focus more on compliance moving forward.

Teng said:

Most financial institutions end up paying hefty fines at some point. What’s important is learning from those mistakes, making the right investments, and moving forward to become better. That’s exactly what we’re doing now.

Big Binance Party

Binance is already in full swing, stocking up on the last champagne bottles and firecrackers ahead of the CZ release. On September 25, the company announced a major system upgrade to boost performance and stability on its platform. The announcement hinted at possible service disruptions, suggesting the changes could be extensive.

In addition, Binance Coin (BNB) will be getting its own set of upgrades on the same day as CZ’s release. According to a blog post from BNB, the Bohr hard fork will launch on September 29, bringing significant quality-of-life improvements.

One of the key upgrades is the ability for validators to produce consecutive blocks, leading to a smoother experience for developers and users alike. BNB is aiming for a $600 target following the update.

“Uptober” or October?

Besides the potential boost for BNB, there’s an air of optimism building across the broader crypto market. Under the now-popular term “Uptober,” several prominent voices in the community are crediting CZ’s release as a catalyst for price increases in the industry. In short, the theory goes that October has traditionally been a strong month for crypto.

With CZ stepping out of prison at the start of the month, it could generate positive headlines for crypto worldwide. And if Binance’s strategies for BNB pay off, at least one well-known coin is likely to rally in the process.

It’s no surprise people are speculating on the broader industry’s success. Bitcoin’s on the rise for reasons that seem completely unrelated, but Zhao’s release might just be a catalyst.

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