Changpeng Zhao (CZ), founder and former CEO of global crypto exchange Binance, has refuted an earlier news report from the Wall Street Journal (WSJ), which stated that the former Binance CEO is in talks to strike a deal with the Trump family and is seeking a pardon for his 2023 conviction.
WSJ Report
According to WSJ, President Trump’s family is in talks with Zhao to invest in the Binance U.S. subsidiary of the crypto exchange, forming a strategic alliance between the world’s largest crypto exchange and the first-ever crypto-enthusiastic President of America.
The news media also added that CZ is pushing for a presidential pardon regarding his conviction and four months imprisonment for violating United States money laundering laws. Following the case, Zhao paid a fine of $4.3 billion and stepped down as Binance’s CEO, leaving Richard Teng to take over.
Remarkably, this seemed like good news as it would alleviate some of the legal disabilities associated with CZ’s conviction, allowing him more direct involvement with his crypto establishment.
“No Felon Would Mind a Pardon” – CZ
Via a recent post on his official X account, the former Binance CEO clarified the misconceptions about him seeking a presidential pardon, noting that WSJ had dispersed misinformation for public consumption.
However, he made an excuse for the report and stated that the piece could be fueled by lingering opposition from the previous administration’s “war on crypto.”
4. Sorry to disappoint. The WSJ article got the facts wrong.
More than 20 people have told me they were asked by the WSJ (and another media), “Can you confirm that CZ made some deal for a pardon?”
They probably asked hundreds of people to have 20 people reach out to me. In… https://t.co/ELyDPmKD3G
— CZ 🔶 BNB (@cz_binance) March 13, 2025
The Binance founder noted that his case with the U.S. agencies is historic as he is the first and only one in crypto history to be imprisoned for a single BSA charge. He noted he’s happy to make crypto great in many places across the globe. Concurrently, CZ said he had no discussions on a Binance U.S. deal with President Trump or anyone else.
Meanwhile, Management Limited (MGX), an Abu Dhabi investment firm for artificial intelligence (AI) technologies, recently invested $2 billion in the Binance global exchange platform.
