Changpeng Zhao Denies Wall Street Journal Report
- Changpeng Zhao refutes claims of discussions with Trump
- Resigns as Binance’s CEO as part of a plea deal
Binance’s former CEO, Changpeng Zhao, has dismissed a report by the Wall Street Journal and clarified that he has not engaged in any talks with US President Donald Trump regarding a potential presidential pardon.
In a statement on X, Zhao stated, “Sorry to disappoint. The WSJ article got the facts wrong.” He emphasized that there have been no conversations about a Binance US deal with the Trump family.
He further expressed that the article seems to be a targeted attack on the President and the cryptocurrency industry, suggesting lingering influences from the previous administration’s “war on crypto.”
False Allegations and Misinformation
Sorry to disappoint. The WSJ article got the facts wrong.
More than 20 people have told me they were asked by the WSJ (and another media), “Can you confirm that CZ made some deal for a pardon?”
They probably asked hundreds of people to have 20 people reach out to me. In… https://t.co/ELyDPmKD3G
— CZ
BNB (@cz_binance) March 13, 2025
The Wall Street Journal article alleged that discussions between Trump’s administration and Binance commenced following the crypto exchange’s attempts to collaborate with Trump affiliates for a business arrangement to reintroduce the company to the US market.
$4.3 Billion Agreement
In a significant move in November 2023, Zhao stepped down as Binance’s CEO as part of a $4.3 billion deal with the Department of Justice (DoJ) to resolve criminal charges against the exchange.
As part of the agreement, Zhao admitted to violating the Bank Secrecy Act by disregarding anti-money laundering protocols at Binance. Despite offering $4.5 billion in Binance equity as collateral, Zhao was prohibited from traveling to the UAE due to flight risk concerns.
Subsequently, in April 2024, Zhao received a four-month prison sentence and was released in September of the same year.
Regarding Presidential Pardons
Following his return to the White House, Trump granted a pardon to Ross Ulbricht, the mastermind behind Silk Road.
Ulbricht was pardoned in January after serving 12 years in prison for his involvement in Silk Road. His arrest took place in 2013, followed by a conviction in 2015, resulting in two life sentences plus an additional 40 years without parole.
Other individuals seeking presidential pardons include Sam Bankman-Fried’s parents for their association with the collapse of FTX cryptocurrency exchange and Roger Ver, who is appealing to Trump to avoid a potential 109-year prison sentence.
