CZ’s Legal Team Files US Pardon Bid—Binance Founder Plays the Long Game

Changpeng Zhao’s lawyers confirm submitting a formal pardon request to US authorities—because nothing says ’regulatory compliance’ like begging for forgiveness after the fact.

The move comes as Binance’s native token BNB flirts with ATHs, proving once again that in crypto, bad behavior gets priced in faster than a Solana transaction.

Will the DOJ bite? Or is this just another case of ’ask for permission later’ from an industry that treats regulations like optional software updates?

CZ raises concerns about memecoins

Meanwhile, the former Binance CEO noted that there is too much money in memecoins, and the market is paying too much attention to them. This was in response to the question of what the potential rot in the crypto ecosystem could be at the moment.

According to him, most memecoins fail due to their risk and short-term nature. Thus, they are not valuable enough for the interest they get. However, Zhao added that most memecoin traders already know and accept these risks of failure.

This view aligns with many who have been critical of memecoins and believe it has caused more damage to the crypto space. Interestingly, the interest in memecoins has plateaued due to the market downturn and the crash in the value of most memecoins.

Still, Zhao admitted that memecoins are taking attention from utility projects. He blamed this on the previous Securities and Exchange Commission (SEC) stance, which saw most crypto projects as securities.

With the new SEC administration deregulating the market and allowing them to take risks again, Zhao expects builders to return to the crypto space.

Zhao praises Trump’s pro-crypto moves

Interestingly, the former Binance CEO disclosed that he had never spoken with Trump. He explained that Binance is a foreign company, which means it cannot donate to any political campaign, and he personally avoids getting involved in elections.

However, he praised the achievements of the Trump administration in the crypto industry. According to him, the idea that the US would see a 180-degree shift in its approach to the industry would have been unimaginable years ago, but it is now achievable due to the power of democracy.

He said:

“We as an industry are very lucky that the current US president is very pro-crypto, and he is very smart.”

Still, he stated that Binance.US does not have any major plans in the US yet, even though it continues to operate. Zhao mentioned that he is the majority shareholder in Binance.US, and the exchange equity arrangement has not changed.

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