Changpeng “CZ” Zhao, the former CEO of Binance, has denied that he plans to reshuffle back into his old role but wouldn’t mind seeing if Donald Trump can free him from the United States president-elect.
The comments came after John Lilic, the Executive Director of the Telos Foundation, posted on X (formerly Twitter) on December 2. “If Trump pardoned CZ, that would encourage the crypto industry’s growth and allow him to return to Binance as CEO,” Lilic posited.
“CZ Binance doing his job @realDonaldTrump pardon him so he can return to @binance as CEO and work with @crypto to mature the industry & realize its potential.” Lilic also wrote that he is also a victim of lawfare.CZ replied succinctly:
President @realDonaldTrump should consider a pardon for @cz_binance so he can return to being the CEO of @binance and help the crypto industry mature, and realize its full potential. He is also a victim of law fare.
— John Lilic zk acc (@ChiefOfTelos) November 26, 2024
“No wish to be CEO again. I don’t think I’d mind being pardoned at all ..”
Community Rallies Behind CZ
After seeing how this interaction went, the whole crypto community was all in. Twitter users also shouted out #FreeCZ, hoping that CZ might play a larger role in crypto beyond just Binance by maybe even working for a government.
“CZ should be in the government to assist in mass #crypto adoption,” another user added. ‘There is one more added, not working as CEO of Binance, but as a CEO of crypto.’
Once he returned from a four-month prison sentence due to charges surrounding Binance, CZ was open about his plans. But in the same interview, he brushed away talk of a ‘lifetime ban’ from managing crypto exchanges over the terms of the deal he cut with the U.S. government.
“I asked that question because those two words do not appear in my plea agreement,” CZ said.
However, CZ remains resolute in not taking up the Binance CEO role. Instead, he takes time to mentor and give money to the most promising crypto entrepreneurs.
Earlier this year, in November 2023, CZ pleaded guilty to aiding transactions by providing a conduit for use by countries such as Iran and Cuba under U.S. sanctions. However, he was accused of not taking enough anti-money laundering measures when he was at the helm of Binance.
Binance paid $4.3 billion in fines, and CZ paid $50 million in a plea. He also stepped down as CEO but still retains rights as a shareholder in the company.
As Trump has voiced pro-crypto views, speculation has been rife about CZ returning to the crypto spotlight, with a pardon from Trump on the table. CZ has promised never to come back to Binance. Still, his weight and influence could shape where cryptocurrency goes in the future, whether as a mentor, investor, or in a more commanding role advocating cryptocurrency adoption.
With challenges in CZ’s legal life, he remains a polarizing figure, and his vision of crypto still attracts lots of attention in the industry.
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