Changpeng Zhao, known as CZ, the founder of Binance, has denied claims made in a Wall Street Journal article that suggested he sought a pardon. Zhao said that the report was based on incorrect information. This statement was posted on X on March 13.
"Sorry to disappoint. The WSJ article got the facts wrong," said Zhao. "I have had no discussions of a Binance US deal with … well, anyone. Feels like the article is motivated as an attack on the President and crypto. It's good to see that even WSJ thinks I should be pardoned."
According to the Wall Street Journal, representatives of President Donald Trump's family were involved in discussions to acquire a financial stake in Binance.US, the American branch of the cryptocurrency exchange. The report also mentioned that Zhao had been seeking a pardon from the Trump administration. However, Zhao refuted these claims, saying no such discussions took place, as reported by Reuters.
Zhao is recognized as the founder and former CEO of Binance, which is currently the largest cryptocurrency exchange by trading volume. Born in China and raised in Canada, he previously worked at both the Tokyo Stock Exchange and Bloomberg Tradebook before entering the crypto industry. In 2017, he launched Binance and expanded it into a global platform offering trading services, blockchain development, and Web3 infrastructure. He has also supported industry initiatives like BNB Smart Chain and various philanthropic projects, according to Forbes.
Binance offers a range of digital asset services including trading, lending, and staking. In 2023, Binance increased its compliance investment by 35% to $213 million to strengthen its regulatory framework. This included expanding its compliance team and implementing advanced AI-driven monitoring systems, according to The Wall Street Journal.
