Changpeng “CZ” Zhao, the former CEO of Binance, has denied claims that representatives of former U.S. President Donald Trump’s family were involved in discussions to acquire a stake in Binance.US.
His response came after a Wall Street Journal (WSJ) report suggested that such talks had taken place. Addressing the allegations in a March 13 post on X, Zhao dismissed the claims, stating, “I have had no discussions of a Binance US deal with … well, anyone.”
WSJ Claims CZ Sought Presidential Pardon
The WSJ article alleged that Zhao was seeking a presidential pardon from Trump to regain an operational or management role at Binance. According to the report, Binance had approached Trump’s allies last year with a business proposal aimed at strengthening its U.S. operations.
However, CZ strongly denied these accusations, suggesting that the report was politically motivated. He argued that “residual forces of the ‘war on crypto’ from the last administration are still at work” and that the article was intended as “an attack on the President and crypto.”
CZ Addresses His Legal History and Binance’s U.S. Exit
Zhao, who pleaded guilty to violating U.S. anti-money laundering laws, highlighted that he is the only individual in U.S. history to receive a prison sentence for a single Bank Secrecy Act violation. While he acknowledged that “no felon would mind a pardon,” he reiterated his commitment to advancing cryptocurrency both in the U.S. and globally.
In November 2023, Binance settled with U.S. authorities, agreeing to pay $4.3 billion in fines. As part of the deal, Zhao stepped down as CEO, and Binance committed to fully exiting the U.S. market. Reports indicate that he is permanently barred from operating or managing Binance, making a presidential pardon a potential game-changer for his return.
Trump Administration’s Shift in Crypto Policy
Since Trump’s return to political influence, his administration has taken a more favorable stance on digital assets, reversing the strict regulatory approach of the previous government.
Under acting Chair Mark Uyeda, the U.S. Securities and Exchange Commission (SEC) has reportedly softened its enforcement efforts against crypto firms. Several high-profile cases, including those involving Binance and Coinbase, have been paused or dropped.
While the WSJ report fueled speculation about Binance’s potential U.S. revival under Trump’s leadership, CZ’s denial signals that, for now, the former CEO remains focused on his next chapter in the crypto industry.
