Former Binance CEO Changpeng 'CZ' Zhao has indicated that he is not interested in returning to the CEO position at Binance but is open to a pardon from U.S. President Donald Trump.
Discussion of Pardon
On December 2, 2024, Changpeng Zhao responded to a post by Telos Foundation's John Lilic, who suggested Trump consider pardoning Zhao. Lilic claimed Zhao is a 'victim of lawfare' and his return could benefit the crypto industry. Zhao replied that he has no wish to be CEO again but wouldn't mind a pardon from Trump.
Community Reaction to Zhao's Comments
Following the interaction between Zhao and Lilic on social media, there were numerous supportive comments for Zhao. Many users opined that Zhao could be of great benefit to the crypto industry, either by returning as Binance CEO or taking a governmental role. One user stated that Zhao deserves a spot in the government to promote crypto adoption, while another suggested he could lead the industry without serving as Binance CEO.
Reasons for Zhao's Departure and Deal Terms
In November 2023, Zhao pleaded guilty to charges related to the company's operations, including facilitating transactions for countries under U.S. sanctions like Iran and Cuba. As part of his deal with the U.S. government, Binance paid a $4.3 billion fine, Zhao personally paid a $50 million fine, and agreed to step down as CEO. However, he retains shareholder rights in the company.
Zhao made clear that despite no restrictions on managing exchanges again, he has no desire to return to his role at Binance. He intends to focus on mentoring young entrepreneurs in the crypto industry.
