After the presidential pardon, Binance co-founder and former CEO Changpeng Zhao (CZ) has raised questions about the exchange's U.S. operations amid speculation of a return.
Can CZ become the CEO of Binance again?
Industry observers believe that this important step for CZ and Binance could restore Zhao's leadership and strengthen Binance's U.S. operations.
According to Bloomberg, Binance.US could be merged into its global operations or re-enter the US market.
Markus Theil, CEO of 10x Research, says, "US institutional investors and investment products are driving this cycle, and Binance can now shift its focus."
He further stated that the American affiliate of Binance is likely to rejoin the global ecosystem, providing American investors with direct access to its "deep liquidity and collective derivative offerings."
Signs of CZ's return
There are prospects for Zhao to become CEO again. Questions have arisen about his intentions after changing his X profile from "former Binance" to "@Binance" in recent weeks.
Not everyone thinks Zhao wants to become CEO again. David Namdar, manager of the BNB Treasury company linked to Zhao's family office, says, "I believe he has relieved himself of the burden by not running the exchange. Returning to that role would be surprising."
Opportunities in the US market
Patrick Horsman, Chief Investment Officer of Applied DNA Sciences, says that Binance's technology, liquidity, and low fees could dominate the US crypto market.
According to Bloomberg reports, Zhao's apology could enhance his standing and Binance's global expansion.
Challenges of global expansion
The company holds minority shares in Thailand and Malaysia, where there are eligibility requirements for significant shareholders.
Chris Holland, partner at consulting firm HM in Singapore, says that "a criminal conviction can be an obstacle for any individual looking to acquire a beneficial ownership interest in a regulated or listed company."
Future prospects
Cosmo Jiang, managing partner at Pantera, expects Zhao to "become more involved in Binance's operations" after his apology. He noted that having the founder return to the firm is always exciting as it usually leads to better growth and execution.