Binance founder Changpeng Zhao, widely known as CZ, has publicly alleged that rival cryptocurrency exchanges actively worked to prevent his presidential pardon, which was ultimately granted by former President Donald Trump in October 2025. The accusations first surfaced through CZ's Telegram channel, where he claimed competitors spent millions of dollars lobbying against his clemency request. Speaking later on the Crypto Banter podcast, Zhao said, “The other crypto exchanges in the US don’t want me to get a pardon,” adding that some feared Binance could re-enter the U.S. market. He did not name the specific exchanges or provide documentary evidence, acknowledging, “I don’t have concrete evidence of any of it.”
The pardon came after CZ pleaded guilty in 2023 to failing to maintain an effective anti-money-laundering program, and Binance reached a $4.3 billion settlement with U.S. authorities over sanctions and money-transmission violations. Trump granted clemency on October 23, 2025, a decision that drew criticism from lawmakers and renewed debates about Binance’s legal standing. CZ’s allegations shift the narrative from regulatory enforcement to industry power struggles, hinting at lobbying battles behind the scenes.
Recent court rulings have provided Binance some legal relief. A federal judge dismissed a civil lawsuit brought by victims of terrorist attacks, finding no plausible connection to Binance or Zhao, and an Alabama court dismissed key claims in a separate case tied to alleged transfers to terrorist groups, though plaintiffs may amend parts of the complaint. CZ’s book “Freedom of Money,” announced shortly before the allegations, underscores his ongoing public engagement with the crypto industry despite his legal history.
