CZ Softly Tells President-Elect Donald Trump That He Wants a Pardon

Former Binance CEO Changpeng Zhao, popularly known as CZ, has indicated he would not oppose being pardoned by U.S. President-elect Donald Trump. However, he reiterated that he has no plans to reclaim his position as Binance’s CEO.

No wish to be CEO again. But definitely wouldn’t mind a pardon.

— CZ 🔶 BNB (@cz_binance) December 2, 2024

CZ’s remarks were in response to a suggestion by John Lilic, a member of The Telos Foundation, who proposed that Trump should pardon CZ and reinstate him as the head of Binance. A presidential pardon in the U.S. nullifies criminal convictions and removes associated penalties, potentially clearing the way for CZ to return to Binance’s leadership.

Legal Troubles and Settlements

In his tweet, CZ firmly dismissed any aspirations of resuming a leadership role but left room for a potential legal pardon. The statement follows CZ’s release from prison earlier this year after serving a four-month sentence. His incarceration was part of Binance’s $4.3 billion settlement with U.S. regulators in November 2023. 

Authorities, including the Department of Justice, accused Binance of violating anti-money laundering (AML) regulations, operating without proper registration as a money transmitter, and facilitating illicit transactions. Investigations revealed that Binance’s U.S. subsidiary enabled nearly $900 million in transactions with sanctioned entities, such as Iran, while neglecting AML compliance protocols.

As part of the settlement, CZ stepped down as Binance CEO, with Richard Teng assuming the role. CZ admitted his failure to establish adequate AML measures at Binance, agreeing to the fine and prison term under the terms of the settlement. 

CZ Clarifies His Role With Binance

After serving his sentence, CZ clarified his current role with Binance. While no longer involved in its daily management, he retains his shareholder rights. He has shifted his focus to investments and his digital education initiative, Giggle Academy. Reflecting on his departure from Binance, CZ expressed a desire to mentor young entrepreneurs but emphasized he would not take on another CEO position. 

In October, CZ made his first public appearance since his release at Binance Blockchain Week in Dubai. During an on-stage interview with Austin Arnold of Altcoin Daily, CZ humorously addressed his time in prison, signaling his readiness to move forward from past controversies.