According to ChainCatcher, Binance founder CZ stated in an interview with the All-In podcast, "I first met SBF at the Singapore conference in 2019. FTX proposed forming a joint venture (JV), which was initially rejected. A subsequent proposal led to Binance's investment in acquiring a 20% stake in FTX. Some problems arose during this process, including malicious disparaging remarks and poaching of employees. I withdrew from the investment in July 2021 and was not a deeply involved investor. There are still related lawsuits in progress, and the details of FTX's bankruptcy proceedings and compensation are unclear."
Furthermore, CZ revealed that applying for a pardon requires a lawyer to draft a petition stating the reasons, such as whether there was excessive prosecution or whether the person in question is of good character. The final decision rests entirely with the US president, and there is no fixed or standardized procedure. Historically, most US presidents typically issue pardons on the last day of their term, but Biden has also issued "early pardons." CZ believes that obtaining a pardon is crucial for Binance's smooth and compliant entry into the US market, and also believes that the legal issues facing Trump himself may contribute to the success of the pardon application to some extent.
