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Binance Founder CZ Confirms Filing for President Trump’s Pardon
By: bitcoin ethereum news|2025/05/09 07:15:01
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Changpeng Zhao (CZ), the former CEO of Binance, has confirmed in an interview that he has formally applied for a presidential pardon from Donald Trump. However, he also clarified that he has no plans to return as a leader in the world’s largest crypto exchange. Former CEO Files For Clemency Zhao said on the Farokh Radio podcast that the application was submitted through his legal team two weeks ago. He explained that the decision to proceed came after news reports in March by Bloomberg and The Wall Street Journal alleged he was seeking a pardon in connection with crypto ventures linked to the Trump family. “We only submitted after the Bloomberg article and the Wall Street Journal article came out,” Zhao said, referring to his initial denial of the reports. “If they are writing this article, we might as well just officially apply,” he added. Back in March, Zhao publicly dismissed the report on X, saying the news outlet had reported incorrect information and that he had not held any discussions regarding a Binance U.S. deal. However, he acknowledged that he would not object to receiving amnesty: “No felon would mind a pardon, especially being the only one in U.S. history who was ever sentenced to prison for a single BSA charge.” In the recent interview, CZ further explained that part of the motivation came from President Trump’s previous decision to pardon the BitMEX founders, including Arthur Hayes, who pleaded guilty to violations of the Bank Secrecy Act (BSA). CZ Won’t Be Returning to Binance Although Zhao is seeking clemency, he revealed he has no plans to return to the company’s leadership. “I’m not really looking to become CEO of Binance again,” he said. Despite stepping down, he remains the largest shareholder of the crypto exchange. His legal troubles began in November 2023, when he pleaded guilty to a money laundering violation in a settlement with U.S. authorities. Binance agreed to pay a $4.3 billion penalty, with CZ contributing $50 million. The former executive was also ordered to resign as the company’s CEO. He was later sentenced to four months in prison and banned from holding any role at Binance. According to the U.S. Department of Justice (DOJ), while a presidential pardon would not erase his conviction, it could allow him to take on a managerial or operational position at the firm. Since completing his prison term, Zhao has taken up advisory positions abroad. In Pakistan, he supports the nation’s crypto council with policy and infrastructure planning. He also signed an MOU with the National Investment Agency in Kyrgyzstan to assist with Web3 initiatives and digital finance development. LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin! Source: https://cryptopotato.com/binance-founder-cz-confirms-filing-for-president-trumps-pardon/
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