CZ Confirms No Return to Binance Despite Trump Pardon – What’s Really Happening?

Changpeng Zhao just slammed the door shut. The former Binance CEO declared he won’t be returning to the crypto exchange he founded—even after a controversial presidential pardon cleared his legal path. So why walk away from a $100 billion empire?

The Unwinnable War

Regulators have Binance in a permanent chokehold. The $4.3 billion settlement with U.S. authorities wasn’t just a fine—it was a blueprint for compliance suffocation. Every transaction now gets the regulatory microscope treatment, turning agility into bureaucratic sludge.

The Ghost in the Machine

CZ’s influence never really left. His ‘decentralized advisory’ through encrypted channels and loyalist networks keeps Binance’s DNA intact without the liability. The founder’s shadow governance might be more powerful than any official title.

Next-Gen Gambits

While Binance battles compliance paperwork, Zhao’s eyeing decentralized infrastructure plays. Think cross-chain interoperability protocols and regulatory-resistant DeFi primitives—the stuff that makes traditional finance lawyers spontaneously combust.

BNB’s Paradox

The exchange token keeps hitting new highs while its creator distances himself. Classic crypto—the product outperforms the drama. Wall Street analysts are probably adding ‘founder scandals’ as a bullish indicator in their models as we speak.

The Final Trade

Zhao isn’t being forced out—he’s executing a strategic exit. By leaving Binance to navigate regulatory hell while he builds the next paradigm, he gets to fail forward. The pardon wasn’t an invitation back; it was a get-out-of-jail-free card for his next move. Sometimes the biggest power move is walking away from the table entirely—especially when you already own the casino.

From Prison to Presidential Pardon: CZ’s Journey

Zhao served four months in federal prison after pleading guilty in November 2023 to violating the Bank Secrecy Act.

His first day involved a “pretty brutal” strip search where authorities required him to “strip naked,” “lift your balls,” and “flip over, spread your butt cheeks, cough three times.“

His first cellmate was serving 30 years for double murder. “I’m not usually very emotionally stable,” Zhao said about coping.

“So I just thought, at four months, I just got to get through it, right?” Despite legal advice that no one in U.S. history had been jailed for a single Bank Secrecy Act violation, he received prison time while most bank CEOs get deferred prosecution agreements.

Media speculation in March 2025 prompted Zhao to apply after major publications suggested he should receive one.

“It was actually all the media that says I might be trying to get a pardon,” he explained. “If all the media like you know Wall Street Journal, Bloomberg, New York Times are saying that I should be getting a pardon,” he decided to apply.

He never met Trump directly. “I never got in front of Trump,” Zhao said, noting the process remained “like a black box. I don’t know what the process is.”

He was “about 30, 40 feet away from him” during a Davos session but never shook hands. “I just waited and waited and waited and then suddenly it happened.“

A candid conversation from Davos – on prison, pardon, and what freedom means going forward.

Full interview on @CNBC with @andrewrsorkin. Focused on building what’s next. pic.twitter.com/x94llJFac2

Current Focus: Education, Investment, and Government Advisory

Zhao now focuses on Giggle Academy, a free education platform, while working with YZLabs and mentoring BNB Chain founders.

“I also spent quite a lot of a lot of time talking with about a half about a dozen governments about you know how to regulate crypto, how to do tokenization, how to do stable coins,” he said.

He firmly ruled out returning to Binance. “I haven’t really needed to go back. I didn’t really want to,” he stated.

“I don’t think it’s good for me to go back. I think we should leave room for strong leaders to grow.” His involvement today is minimal, revealing, “When I want to give them advice, I just write it on Twitter.“

When asked about potential refunds of Binance’s $4.3 billion settlement, Zhao said, “If we get any refund, we will be investing that in America, to show our appreciation,” though he clarified he had not requested one.

Former @Binance CEO @cz_binance says any refund of Binance’s $4.3 billion DOJ settlement WOULD be reinvested in the United States.#Crypto #Binancehttps://t.co/yhb5gQfAlN

CZ Predicts 2026 Bitcoin “Super Cycle” Breaking Historical Pattern

Notably, Zhao predicted a “” in 2026 that could break Bitcoin’s four-year pattern. “I have very strong feelings that you will probably be a super cycle” in 2026, he told CNBC.

“Normally, bitcoin follows four year cycles historically,” Zhao explained.

“If you look at historic data like every four years you know there’s an all-time high and then there’s a drop. But I think this year given the US being so pro crypto and every other country is kind of following, I do think we will see this we will probably break the four year cycle.“

Zhao doesn’t trade despite his holdings. “” he said. “I just hold. I hold. I don’t do day trading.” On long-term predictions, he stated, “If you look at a 10, five, 10 year horizon, it’s very easy to predict. We’re going to go up.“

Corruption Allegations and Political Backlash

The pardon has drawn fierce opposition from Democratic lawmakers, who question its timing and the circumstances surrounding it.

Senator Elizabeth Warren wrote that “the convergence of Mr. Zhao’s pardon application and Binance’s financial entanglements with the President’s family presents urgent concerns regarding the integrity of our justice system.“

Representative Maxine Waters also called it “an appalling but unsurprising reflection of his presidency.“

Despite these allegations, Trump claimed he doesn’t know who Zhao is, calling the case “.”

White House press secretary Karoline Leavitt also defended the decision, noting the case had “no allegations of fraud or identifiable victims.“

In response to mounting criticism, Zhao’s attorney, Teresa Goody Guillén, dismissed corruption allegations as “” based on “” of blockchain technology, arguing that Zhao ““

CZ's attorney dismisses pardon corruption allegations as Democratic lawmakers investigate alleged Binance ties to Trump's crypto venture.#CZ #Trumphttps://t.co/0WLLMpcu7i

While CZ confirmed he will not be returning the exchange, reports, however, indicate that Binance is exploring options to re-enter the U.S. market.