Binance co-founder Changpeng “CZ” Zhao said rival crypto exchanges in the United States opposed his pardon request before President Donald Trump granted clemency in October 2025.
Summary
- CZ said rival exchanges opposed his pardon, but admitted he had no concrete evidence.
- Binance’s US exit followed a $4.3 billion settlement with American authorities in 2023.
- Recent court dismissals gave Binance fresh legal wins after earlier terrorism-finance allegations in lawsuits.
Speaking on the Crypto Banter podcast, Zhao said some competitors did not want him pardoned because they feared Binance could return to the U.S. market.
He said, “The other crypto exchanges in the US don’t want me to get a pardon.”
Claim lacks public proof
Zhao also said he believed there had been pushback from competitors, but he did not present proof. “I don’t have concrete evidence of any of it,” he said.
That makes the claim hard to verify. The statement still adds a new layer to the debate around his pardon, which drew criticism from lawmakers and renewed talk about Binance’s U.S. future.
Moreover, Zhao pleaded guilty in 2023 to failing to maintain an effective anti-money-laundering program. Binance also reached a $4.3 billion settlement with U.S. authorities over violations linked to sanctions and money-transmission rules.
Crypto.news reported that Trump pardoned Zhao on Oct. 23, 2025. The outlet also noted that the decision sparked criticism and questions over Binance-linked business ties involving Trump-related crypto ventures.
Binance wins recent court relief
Zhao’s comments also came after Binance and Zhao won dismissal of a civil lawsuit brought by victims and relatives of victims of terrorist attacks. Reuters reported that a judge found the plaintiffs did not plausibly show culpable involvement or intent by Binance or Zhao.
A separate Alabama court also dismissed key claims against Binance, Binance.US, and Zhao in another case tied to alleged transfers to terrorist groups, though plaintiffs were given room to amend parts of the complaint.
Crypto.news previously reported that Trump said he did not personally know Zhao before granting the pardon. Trump said others told him Zhao had been treated unfairly during the Biden administration’s crypto crackdown.
