After 4 months in prison on money laundering charges, Changpeng "CZ" Zhao – the founder of Binance – has confirmed he is submitting a pardon application to President Donald Trump, a move that has drawn significant attention from the global crypto community, especially Binance users.
CZ confirms submission of the application, dismisses news of exchanging Binance.US shares for a pardon
In an exclusive interview with Rug Radio at the Token2049 Dubai event, #CZ stated:
“I am following the legal process correctly. My lawyer submitted the application about two weeks ago.”
Notably, CZ completely dismissed the rumors circulating in the media that he offered to exchange shares of Binance.US for a pardon from Trump.
“I have never discussed with anyone about the shares of Binance.US. That news is completely misleading,” – CZ clearly stated.
He also candidly shared that misleading articles were the motivation for him to decide to proceed with the official application.
“If they wrote like that, then I should also submit the application properly,” – CZ added.
Trump has previously pardoned many "controversial" figures in the crypto world
CZ is not the first person in the cryptocurrency world seeking forgiveness from Trump. Ross Ulbricht – the founder of Silk Road, the famous dark web marketplace that used Bitcoin – was pardoned by Trump at the beginning of his second term.
Additionally, Arthur Hayes and the co-founders of BitMEX were also pardoned at the end of March after pleading guilty to violating the Bank Secrecy Act (BSA).
Now, CZ has joined the list of prominent crypto figures seeking pardons, including Roger “Bitcoin Jesus” Ver and even Sam Bankman-Fried – the former CEO of FTX facing serious charges.
Contact the Binance community and the crypto market
As the founder and former figure associated with Binance – the world's largest exchange, CZ's request for a pardon will not have a small impact on Binance's reputation and investor confidence. Although CZ has stepped down as CEO, his name is still linked to this brand.
Moreover, Trump's continued goodwill towards figures in the crypto industry could be a sign of increasing friendliness from the U.S. government towards the digital asset market, especially in the context of the upcoming U.S. elections.
Risk warning: Investing in cryptocurrency is a potentially risky activity and may not be suitable for everyone. Users should thoroughly research information and consider carefully before participating. Changes in policies, legal matters, or factors related to senior personnel can significantly impact the market.