CZ Flips Script: Binance Founder Now Seeking Pardon After Initial Denial
Just when you thought crypto’s regulatory drama couldn’t get more theatrical—former Binance CEO Changpeng Zhao pulls a 180. The man who built an empire on ’asking forgiveness later’ now wants official forgiveness.
From ’no pardon needed’ to pardon plea—CZ’s latest move proves even crypto kings bow to political winds. Maybe those compliance seminars finally sunk in.
Bonus jab: Nothing says ’decentralized ethos’ like begging centralized powers for clemency. The irony writes itself.
CZ Cites Trump’s BitMEX Pardons as Key Motivation
Zhao, commonly known as CZ, also cited Trump’s past pardons of three BitMEX executives, including Arthur Hayes, as further motivation for submitting the application.
According to him, the paperwork was filed roughly two weeks prior to the podcast episode.
The former crypto mogul pleaded guilty to violating the Bank Secrecy Act in November 2023 as part of a settlement with U.S. authorities.
The agreement led to Binance paying $4.3 billion in fines, with Zhao personally contributing $50 million.
He was sentenced to four months in prison and barred from holding any management position at Binance as a condition of the deal.
Although a pardon would not erase Zhao’s money laundering conviction, it could potentially clear the way for him to return to a leadership role at Binance.US, according to the U.S. Department of Justice.
Zhao acknowledged that “no felon would mind a pardon” and believes he may be the only individual to have served time for a Bank Secrecy Act violation.
Since stepping down as CEO and serving his sentence, Zhao has remained a shareholder in Binance and has said he has no intention of returning to the helm.
Speaking at Binance Blockchain Week in November, he remarked, “I feel the team is doing well and doesn’t need me back.”
Zhao has since shifted focus to international advisory work, offering guidance to governments in Pakistan and Kyrgyzstan on crypto regulation and blockchain integration.
Trump, who recently granted Ulbricht’s pardon, had promised the crypto community during his campaign that he would free the Silk Road founder.
Though he pledged to act on his first day in office, Ulbricht’s release came a day after Trump’s January 20 inauguration.
Bhutan Taps Binance to Launch National Crypto Tourism Payment
Bhutan has partnered with Binance Pay and DK Bank to allow tourists to pay for nearly all travel-related expenses using cryptocurrency.
Tourists can now use digital assets to pay for flights, hotels, tours, visa fees, and even roadside purchases.
The system, powered by Binance’s app, supports over 100 cryptocurrencies and enables real-time transactions via QR codes.
Payments are instantly settled in local currency by DK Bank, eliminating the need for traditional banking systems, currency exchanges, or international cards—making travel more seamless and affordable for foreign visitors.
More than 100 Bhutanese merchants, including rural artisans and small vendors, have joined the system, allowing even remote businesses to accept crypto payments through a simple smartphone.
