Prison Life Through the Eyes of Binance’s Founder

Is prison akin to a film? Changpeng “CZ” Zhao, the pardoned billionaire behind Binance, seems to think so.

In 2023, Zhao admitted guilt for breaching anti-money laundering regulations. He then spent four months in prison in 2024 before being pardoned by President Donald Trump in October 2025.

Since his release, Zhao has been, well, quite active. He mentioned in a recent interview with CNBC’s Andrew Ross Sorkin that he’s been focusing on initiatives related to free education and investment platforms, also advising over a dozen governments on cryptocurrency regulations.

However, it seems like everyone wants to ask him about his time in prison, or maybe some are just hesitant. “It’s definitely a conversation starter,” he acknowledged.

His initial roommate, he shared, was a double murderer who had been incarcerated for around 12 years, with 18 more years to go before his release. Eventually, this individual was moved to a lower-security facility.

According to Zhao, he was surprisingly taken aback by the prison sentence, believing he would instead be placed under house arrest.

The first day in prison was, in his words, “pretty tough.” Zhao recounted the invasive strip searches that included checks in various sensitive areas.

His pardon has raised eyebrows, as some observers are questioning Trump’s motivations. Binance is currently promoting a stablecoin, USD1, which is backed by the Trump family—this connection raises questions about transparency in the use of presidential pardon powers.

Rep. Robert Garcia noted in a letter that Americans deserve to understand whether the pardon was issued without undue financial influence.

Interestingly, Trump claimed in an interview on “60 Minutes” that he didn’t know who Zhao was post-pardon.

When asked about the pardon process during his CNBC interview, Zhao seemed to express some confusion. “I don’t know yet what the process will be,” he said.

He recalled that his application for a pardon was triggered by media speculation that he might qualify. After submitting his application, the process felt like a “black box.”

Others suggested that Zhao should meet Trump directly. “But I never stood in front of Mr. Trump. I just waited and waited and waited. And then all of a sudden, it happened,” he reflected.

He confirmed that he hadn’t spoken with Trump yet: “No, not yet,” Zhao remarked.

He was present when Trump signed a “peace commission” in Davos, sitting about 30 to 40 feet away from him, but that was as close as they got. “I’ve never talked to him,” he noted. “Never shook hands.”