Crypto Mogul CZ Reflects on Surprising Pardon
Chao Changpeng, often referred to as “CZ,” the billionaire behind the cryptocurrency exchange Binance, shared his astonishment over President Trump’s decision to pardon him in his first interview post-pardon. He described his feelings as “surprised.”
Zhao had received a four-month prison sentence after pleading guilty last year for breaching the Bank Secrecy Act due to insufficient anti-money laundering measures at Binance. His pardon came through on October 23.
In an interview with Fox News’ Bret Baier, he expressed that the timing of the pardon was unexpected: “I was a little surprised because, well, no one really knows what’s going to happen or when,” he said.
Reportedly, discussions within the White House intensified around October 12 regarding the potential pardon for Zhao, who had been advocating for his felony conviction to be eliminated. A few officials raised concerns about a possible link between Zhao’s business and the Trump family’s cryptocurrency-related ventures. Zhao’s team, according to sources, suggested that Binance and the Trump family’s entity, World Liberty Financial, had considered a deal that might influence the pardon process.
In response to those claims, Zhao firmly rejected any implication of an agreement. “That’s not accurate at all,” he stated, reiterating, “There is no agreement. There has never been a discussion.”
Despite never having met President Trump, Zhao conveyed his gratitude for the pardon, expressing a desire to assist the U.S. in becoming a hub for cryptocurrency. “I want to help America become a crypto capital,” he added.
The Wall Street Journal, in turn, affirmed the accuracy of their reporting in light of Zhao’s remarks.
