Binance co-founder Changpeng “CZ” Zhao said on the Crypto Banter podcast that rival crypto exchanges in the United States tried to block President Donald Trump’s pardon of him in October 2025. “The other crypto exchanges in the US don’t want me to get a pardon,” he said, while admitting he had no hard proof.
Claim Lacks Public Proof
“I don’t have concrete evidence of any of it,” Zhao acknowledged. The statement adds a new dimension to the controversy surrounding his pardon, which drew criticism from lawmakers and revived speculation about Binance’s potential return to the U.S. market.
In 2023, Zhao pleaded guilty to failing to maintain an effective anti-money-laundering program, and Binance agreed to a $4.3 billion settlement with U.S. authorities over sanctions and money-transmission violations. Trump pardoned Zhao on Oct. 23, 2025, as reported by Crypto.news. The decision sparked criticism and questions about Binance-linked business ties with Trump-related crypto ventures.
Binance Wins Recent Court Relief
Shortly before Zhao’s remarks, a federal judge dismissed a civil lawsuit filed by victims and relatives of terrorist attacks against Binance and Zhao, ruling that plaintiffs failed to plausibly show culpable involvement or intent. Separately, an Alabama court dismissed key claims against Binance, Binance.US, and Zhao in a case alleging transfers to terrorist groups, though plaintiffs were given room to amend parts of the complaint.
Trump said he did not personally know Zhao before granting the pardon and was told by others that Zhao had been unfairly treated during the Biden administration’s crypto crackdown.