CZ claims US crypto rivals fought Trump pardon
Binance co-founder Changpeng “CZ” Zhao claimed that competing cryptocurrency exchanges in the United States tried to block his pardon from President Donald Trump. He made the remarks on the Crypto Banter podcast.
Zhao said some rivals did not want him pardoned because they feared Binance would return to the U.S. market. He stated, “The other crypto exchanges in the US don’t want me to get a pardon.”
Claim lacks public proof
The assertion, however, comes without hard evidence. Zhao admitted, “I don’t have concrete evidence of any of it.” That makes the claim tough to verify. Even so, it adds a new layer to the ongoing debate around his pardon, which drew criticism from lawmakers and reignited questions about Binance’s future in the United States.
For context, 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 related 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 raised questions about Binance-linked business ties involving Trump-related crypto ventures.
Binance wins recent court relief
Zhao’s comments came after a legal victory. Binance and Zhao won dismissal of a civil lawsuit brought by victims and relatives of victims of terrorist attacks. According to Reuters, a judge ruled that the plaintiffs did not plausibly show culpable involvement or intent by Binance or Zhao.
Separately, an Alabama court dismissed key claims against Binance, Binance.US, and Zhao in another case tied to alleged transfers to terrorist groups. However, plaintiffs received permission 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.
