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Former Binance Chief CZ Confirms Pardon Request After Initial Denial
By: crypto news|2025/05/08 18:15:02
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Changpeng Zhao, the founder and former CEO of Binance, has confirmed that he has formally applied for a presidential pardon, weeks after initially denying reports of such a move.Speaking on the Farokh Radio podcast aired May 6, Zhao said his legal team filed the request following widespread media speculation.“I got lawyers applying,” Zhao said during the interview, saying that he ultimately decided to move forward after stories from Bloomberg and The Wall Street Journal suggested he was pursuing a pardon from former U.S. President Donald Trump.“If they’re writing this article, I may as well just officially apply,” Zhao added.CZ Cites Trump’s BitMEX Pardons as Key MotivationZhao, 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 PaymentBhutan 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.The post Former Binance Chief CZ Confirms Pardon Request After Initial Denial appeared first on Cryptonews.
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