CZ is back, rushing back, the king's return will surely have major moves.
CZ is seeking a presidential pardon from Trump, which would allow him to take on an operational or management role at Binance. Last year, Binance provided business advice to Trump's allies as part of its strategy to strengthen its operations in the U.S.
CZ pointed out that after serving time for violating U.S. anti-money laundering laws, he is the only person in U.S. history to be imprisoned for violating a single bank secrecy act. He said, "No felon would mind a pardon." He added that he remains committed to advancing cryptocurrency in the U.S. and globally.
Implications of CZ's potential return
In November 2023, Binance settled with U.S. authorities agreeing to pay a $4.3 billion fine. As part of the agreement, Zhao pleaded guilty to failing to implement an effective anti-money laundering program at the exchange. The company is also committed to completely exiting the U.S. market.
CZ later resigned as CEO, and reports indicate he is permanently prohibited from operating or managing Binance under the terms of the settlement. A presidential pardon could change the platform's ability to operate in the country.
Since Trump took office, his administration has taken a more supportive stance on digital assets, reversing the strict regulatory approach of the previous administration. The U.S. Securities and Exchange Commission (SEC) has eased its enforcement actions against cryptocurrency companies. Several high-profile cases, including Binance's joint case, have been paused or dropped.
