CZ Expresses Doubts Over Pardon Amid Competitor Opposition
- Changpeng “CZ” Zhao, co-founder of Binance, doubts he will receive a pardon from US President Donald Trump after serving a four-month prison sentence in September 2024 for anti-money-laundering violations.
- Zhao claims that US competitors lobbied against his pardon due to concerns over Binance potentially re-entering the US market after its exit in November 2023.
- In October 2025, Trump pardoned Zhao, stating he was informed Zhao was a victim of a “witch hunt” by the previous administration.
- Zhao’s comments followed a March ruling dismissing allegations that Binance facilitated fund transfers to terrorist groups.
- Binance.US resumed operations in February 2025, months before Zhao’s pardon was granted.
Zhao’s situation highlights the competitive tensions within the cryptocurrency sector, particularly regarding regulatory pressures and lobbying efforts against major players like Binance. His eventual pardon came after significant legal challenges and public scrutiny surrounding his actions and those of his exchange.
The complexities of Zhao’s case illustrate the ongoing struggles within the cryptocurrency landscape, especially as he faced opposition from rivals concerned about Binance’s potential return to the US market following its $4.3 billion settlement with regulators. (Source)
