Binance Leader CZ Admits Filing for Trump's Presidential Pardon
Rewritten Article:
Changpeng "CZ" Zhao, the former bigwig of Binance, has admitted on a podcast that he's put in a plea for a presidential pardon from ex-President Trump. But he's got no intention of returning to the helm of the world's most significant crypto exchange.
Pardon-Bound?
CZ spilled the beans on Farokh Radio during an interview that his legal eagles submitted the application a fortnight back. The decision came on the heels of reports in March by Bloomberg and The Wall Street Journal suggesting he was seeking Trump's mercy in relation to crypto ventures linked to the Trump family.
"We only filed after the Bloomberg story and The Wall Street Journal story broke,” said CZ. "If they're spinning this yarn, we might as well make it official," he added.
Back in March, CZ flatly dismissed the reports, branding the news outlets as purveyors of incorrect info and denying he'd held discussions about Binance U.S. dealings. However, he wouldn't kick up a fuss about getting a reprieve:
"No felon would turn down a pardon, especially being the sole individual in U.S. history served with a prison sentence for a solitary Bank Secrecy Act charge."
CZ further explained that Trump's earlier pardons of the BitMEX founders—Arthur Hayes among them—played a role in his decision.
A New Chapter Awaits
Although CZ is seeking a pardon, he's got no designs on coming back to the corporate fold. "I'm not exactly dying to take the CEO reins of Binance again," he said. Despite ceding control, he retains the largest shareholding in the crypto exchange.
His troubles began in November 2023 with a guilty plea to a money laundering violation, part of a settlement with U.S. authorities. Binance coughed up a $4.3 billion fine, with CZ chipping in $50 million. He was also ordered to quit as CEO and served a four-month prison term. After his release, the U.S. Department of Justice (DOJ) slapped a ban on him taking any role at Binance.
However, a presidential pardon might allow him to step back into a managerial or operational role, according to the DOJ. Since then, CZ's been making the rounds on the diplomatic circuit. In Pakistan, he's lending a hand to the country's crypto council with policy and infrastructure planning. He's also inked a Memorandum of Understanding (MOU) with Kyrgyzstan's National Investment Agency to assist with Web3 initiatives and digital finance development.
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- Changpeng "CZ" Zhao, the former CEO of Binance, revealed in an interview on Farokh Radio that he sought a presidential pardon from ex-President Trump, submitted through his legal team, following news reports in March by Bloomberg and The Wall Street Journal.
- CZ stated that the decision to seek a pardon came after the news outlets' reports were published, and he reasoned, "If they're spinning this yarn, we might as well make it official."
- Despite the ongoing legal proceedings and alleged links to crypto ventures with the Trump family, CZ expressed no regret about seeking a pardon, likening himself to any other felon who would not turn down such an opportunity.
- Now seeking a pardon, CZ has no intentions of returning to the CEO position at Binance but has been actively engaged in business and technologyrelated activities, including policy and infrastructure planning for Pakistan's crypto council and collaborating with Kyrgyzstan's National Investment Agency on Web3 initiatives and digital finance development.
