On May 7, 2025, just a few months after serving a 4-month prison term, Binance founder Changpeng Zhao (CZ) once again stirred the cryptocurrency community. This time, he officially submitted a petition for a presidential pardon, hoping that President Donald Trump would dismiss past charges and give him a second chance.
From Financial Prisoner to Preferred 'Initiator'?
CZ was convicted in 2024 for violating U.S. anti-money laundering laws – a shocking case that led to a record fine of $4.3 billion for Binance. Following the incident, he was forced to resign as CEO and withdraw from many of the exchange's activities.
The focus of the case is Binance’s weak anti-money laundering system, which allowed many suspicious transactions to go unchecked. But now, as Trump’s policies are leaning towards supporting business and being more open to digital currency, CZ is placing a big bet to start over.
Applying for a pardon is not just a legal action. It is a strategy to reshape public image – from a convicted entrepreneur to a 'victim' of a rigid legal system and a pioneering symbol in the blockchain industry.
Trump and the 'Business Spirit' – CZ's Strategic Bridge
In a recent interview, CZ did not hesitate to express his support for President Trump, praising his approach to politics as a business deal – pragmatic, straightforward, and negotiable.
"It doesn't resemble traditional geopolitical negotiation styles. It is just like a business negotiation – high, low, then high again – until a balance point is reached," CZ said.
With the Trump administration becoming increasingly friendly towards the cryptocurrency industry, CZ is clearly taking the opportunity to align himself with the favorable policy wave and find a way back into the field he once dominated.
Escalating Controversy: Pardon or Legalization of Regulatory Looseness?
However, this move is not welcomed by everyone. Many experts believe that pardoning CZ could undermine efforts to tighten regulation in the crypto sector, which is facing numerous challenges related to fraud, money laundering, and investor protection.
Regulators may see this as a dangerous precedent, especially since CZ was only recently released from prison. A premature pardon could create the image that 'those in power can escape punishment.'
Is Sam Bankman-Fried Being Closely Monitored?
Not only CZ, public attention is also directed towards Sam Bankman-Fried (SBF) – the former CEO of FTX – who is currently serving a 25-year sentence for fraud and causing billions of dollars in losses to retail investors.
Some sources indicate that SBF's family and legal team are quietly preparing to apply for a pardon if CZ's application is approved. However, SBF's chances are assessed to be much lower due to the extent of damage and negative backlash from the community.
However, if Trump actually signs a pardon for CZ, it could set an unprecedented precedent in the cryptocurrency industry – where those who have fallen can rise again, as long as they have the right strategy and choose the right political timing.
Conclusion
Will CZ succeed in 'rehabilitating' and returning to the crypto playground in a rapidly changing world? Or is this just a high-stakes political gamble? Regardless of the outcome, this move will undoubtedly reshape the power dynamics in the decentralized finance sector in the near future.