Changpeng Zhao (CZ), co-founder of CZ, recently Chia more noteworthy insights into the pardon process in the United States.
In a conversation on the Crypto Banter podcast with host Ran Neuner , CZ admitted that he was initially unsure about the possibility of receiving a presidential pardon after completing his four-month prison sentence in 2024 for violating US anti-money laundering regulations. According to him, during that time there was strong opposition from some rivals in the US crypto industry, who feared his return would pave the way for Binance to re-enter the US market.
CZ's story stems from a historic $4.3 billion settlement agreement between Binance and the US government in late 2023. The case revolved around allegations of violations of the Bank Secrecy Act (BSA), the International Emergency Economic Powers Act (IEEPA), and failing to register as a money transfer business. After accepting the agreement, Binance withdrew from the US market in November 2023, and CZ subsequently served a short prison sentence in 2024.
In October 2025, President Trump officially signed a pardon for CZ, just over a year after he completed his prison sentence. CZ stated that he believed opposition from industry rivals in the US existed to a certain extent, although he lacked concrete evidence. Many in the industry considered this a significant milestone, as the pardon not only had personal meaning but also opened up opportunities for Binance to return to one of the world's largest financial markets.
In an interview on CBS News ' 60 Minutes in November 2025, Trump stated that he "didn't know who CZ was" but had been informed that the CEO was a victim of a "witch hunt" under former President JOE Biden's administration. This statement immediately sparked debate within the financial and crypto communities regarding US policy toward the blockchain industry under the new administration.
Following the issuance of the amnesty order, Binance.US resumed operations for eligible users in the US in February 2025. This is XEM as a strategic move demonstrating Binance's gradual rebuilding of its position in the US market, despite still facing a stringent regulatory environment.
Shortly after, CZ received further positive news when a federal court in Alabama in March 2025 dismissed a 2024 lawsuit alleging that he and Binance facilitated the transfer of funds to terrorist organizations. This decision eliminated one of the biggest remaining legal risks for CZ personally and the Binance ecosystem.
