Breaking news! Zhao Changpeng asks Trump for pardon, causing another uproar in the crypto world
B.news
Amid the news that continues to stir the cryptocurrency industry, the dynamics of Binance founder Changpeng Zhao (CZ) have attracted much attention. The convicted industry tycoon recently publicly admitted to applying to US President Trump for a pardon for money laundering. The dramatic turn of events has once again sparked heated discussions.
Zhao Changpeng admitted in the Farokh Radio podcast program broadcast on May 6 that he "doesn't mind" being pardoned, and confirmed that his lawyer had submitted relevant application documents on his behalf. This statement is in stark contrast to his previous denial of the pardon rumors. It is reported that as early as March, Bloomberg and the Wall Street Journal reported that Zhao Changpeng sought Trump's pardon during discussions between Binance.US and the Trump family's business transactions, which Zhao Changpeng denied at the time. But now in the podcast, he has changed his attitude: "Since they wrote this article, I might as well apply formally." The reason behind this change from denial to active application is worth pondering.
Zhao Changpeng also revealed that another important factor that prompted him to submit the application was Trump's previous pardon of three founders, including BitMEX founder Arthur Hayes. This seems to give him hope that he also has the opportunity to get a more favorable situation through pardon. According to him, the application was submitted about two weeks ago.
Looking back at the context of the incident, in November 2023, Binance reached a settlement agreement with the US authorities, and Zhao Changpeng admitted to money laundering in the process. Binance paid a fine of up to US$4.3 billion for this, of which Zhao Changpeng personally borne US$50 million, and he was also forced to resign as CEO. Subsequently, Zhao Changpeng was sentenced to 4 months in prison and was banned from working at Binance according to the plea agreement. The US Department of Justice pointed out that even if he was pardoned, Zhao Changpeng's money laundering charges would not be eliminated, but the pardon could open the door for him to take up a management or operational position in Binance USA.
However, Zhao Changpeng himself does not seem to be interested in returning to the position of CEO of Binance. As a shareholder of Binance, he made it clear at the Binance Blockchain Week event in November last year that he "has no plans to return to the position of CEO" and believes that the current team is performing well and does not need him to return to the helm.
After being released from prison, Zhao Changpeng turned his attention to new areas. He appeared in Pakistan and Kyrgyzstan, participating in local affairs as a consultant, assisting in dealing with cryptocurrency regulation and blockchain solution implementation. This move shows that even after experiencing legal turmoil, Zhao Changpeng still hopes to exert influence in the field of cryptocurrency and blockchain and continue to deepen the industry in a new role.
Zhao Changpeng's application for pardon is not only related to his personal career prospects and reputation, but also triggered a chain reaction in the cryptocurrency industry. How this incident will develop in the future, whether Trump will approve the pardon, and what impact it will have on Binance and the entire cryptocurrency market have become the focus of close attention inside and outside the industry.
