In a significant development in the cryptocurrency market, Binance – the largest cryptocurrency trading platform in the world – is considering restructuring its ownership, which may include reducing co-founder Changpeng "CZ" Zhao's majority stake in the company. This comes as part of the platform's efforts to strengthen its presence in the American market, which is considered the second largest market for crypto adoption globally according to the Chainalysis 2025 index. The main reasons:
CZ's majority stake is considered a "significant barrier" to expansion in major U.S. states due to heavy regulatory scrutiny over governance, control, and compliance. Discussions are still in their early stages and are not finalized, but they include potential recapitalization to relaunch Binance.US (the independent U.S. branch). Related developments:
Speculation about Binance's return to America increased after President Donald Trump's pardon of CZ in October 2025.
CZ commented on social media: "We will do everything we can to make America the crypto capital and develop Web3 globally."
Binance is also considering partnerships with American companies like BlackRock (the largest asset manager in the world) and the World Liberty Financial platform linked to Trump.
Historical background:
Binance withdrew from servicing American customers directly in 2019 and launched Binance.US as a separate entity for regulatory compliance. In 2023, the Securities and Exchange Commission (SEC) accused the platform of operating the two branches together, further complicating matters. Potential implications:
If the plan succeeds, Binance may open the doors to enormous American liquidity and reshape competition with platforms like Coinbase and Kraken. However, the pardon for CZ has faced sharp criticism from Democratic politicians such as Elizabeth Warren and Maxine Waters, who described it as "corruption" and "pay-to-play." The situation is still fluid, and Binance has not issued an official confirmation yet. Stay tuned for developments.
