CZ Declares He Won’t Return to Binance After Trump Pardon

CZ Declares He Won’t Return to Binance After Trump Pardon – What’s Happening?

Changpeng “CZ” Zhao, the former CEO of Binance, has confirmed he will not be returning to the company after receiving a presidential pardon from Donald Trump. In his first appearance at the World Economic Forum, he shared insights about his experiences in prison, the pardon process, and his current efforts in crypto regulation.

Key Takeaways

CZ Zhao received a presidential pardon from Trump but will not return to Binance.
He spent four months in prison after violating the Bank Secrecy Act.
Zhao is currently focused on education and advising governments on cryptocurrency regulations.
He predicts a potential “super cycle” for Bitcoin in 2026, contrary to historical patterns.
Zhao faces political backlash regarding the timing of his pardon.

CZ Declares He Won't Return to Binance After Trump Pardon

From Prison to Presidential Pardon: CZ’s Journey

Changpeng Zhao, often known as CZ, spent four months in federal prison after pleading guilty in November 2023 to breaking the Bank Secrecy Act. His experience began with a rigorous strip search, which he described as “pretty brutal.” His first cellmate faced serious charges, serving 30 years for double murder. Zhao noted that it was challenging to cope, admitting, “I’m not usually very emotionally stable.”

He managed to keep his spirits up, telling himself, “At four months, I just got to get through it, right?” Despite expectations that no one had been imprisoned for a single violation of the Bank Secrecy Act, he ended up serving time, unlike many bank executives who typically receive deferred prosecution agreements.

In March 2025, following media speculation suggesting he should apply for a pardon, Zhao decided to initiate the process. He mentioned, “It was actually all the media that says I might be trying to get a pardon,” which influenced his decision.

Despite the significance of the pardon, he did not have direct contact with Trump throughout the process. He explained, “I never got in front of Trump,” and described the approval process as “like a black box.” At a subsequent session, he found himself “about 30, 40 feet away from him” but never had the chance to shake his hand.

Current Focus: Education, Investment, and Government Advisory

Today, Zhao is prioritizing educational initiatives through Giggle Academy, a free platform aimed at enhancing knowledge in the crypto space. He is also involved with YZLabs and mentors founders on the BNB Chain.

Zhao mentioned that he dedicates a significant amount of time to advising multiple governments on cryptocurrency regulation, stable coins, and tokenization.

He firmly asserted that he does not plan to return to Binance, stating, “I haven’t really needed to go back. I didn’t really want to.” He believes the platform should allow new leaders to emerge, adding, “When I want to give them advice, I just write it on Twitter.”

Regarding Binance’s $4.3 billion settlement, he stated, “If we get any refund, we will be investing that in America, to show our appreciation,” although he clarified he has not requested one.

CZ Predicts 2026 Bitcoin “Super Cycle” Breaking Historical Pattern

In an interesting prediction, Zhao anticipates a “super cycle” for Bitcoin in 2026, which could disrupt its usual four-year cycle pattern. “I have very strong feelings that you will probably be a super cycle” in 2026, he told CNBC.

He explained, “Normally, Bitcoin follows four year cycles historically. If you look at historic data, like every four years there’s an all-time high and then there’s a drop.” However, he believes that due to the U.S. being more supportive of cryptocurrencies, the four-year cycle might not hold this time.

Zhao admitted he does not actively trade, stating, “I don’t trade at all.” Instead, he prefers to hold onto his Bitcoins and BNB. He offered a long-term perspective, saying, “If you look at a 5, 10 year horizon, it’s very easy to predict. We’re going to go up.”

Corruption Allegations and Political Backlash

Zhao’s pardon has faced scrutiny, particularly from Democratic lawmakers who challenge both its timing and the underlying circumstances. Senator Elizabeth Warren expressed concerns over the potential conflicts of interest, while Representative Maxine Waters labeled the incident “an appalling but unsurprising reflection of his presidency.”

In response, Trump claimed ignorance of Zhao’s identity, labeling the case as “a Biden witch hunt.” White House Press Secretary Karoline Leavitt defended the pardon, emphasizing that the case involved “no allegations of fraud or identifiable victims.”

Zhao's attorney, Teresa Goody Guillén, responded to the criticisms by rejecting allegations of corruption as “false statements” stemming from a misunderstanding of blockchain technology, asserting that Zhao “never should have been prosecuted.”

While Zhao has confirmed he will not be returning to Binance, reports indicate that the exchange is seeking ways to re-enter the U.S. market.