Changpeng Zhao said he voluntarily returned to the United States to face criminal charges, despite being able to remain in the United Arab Emirates, in a newly surfaced interview published on Apr. 8.
The former Binance CEO, who served a four-month prison sentence in 2024, described his decision as a calculated move to protect the crypto exchange and the broader industry.
His remarks shed new light on the personal and strategic considerations behind one of the highest-profile legal battles in crypto history.
Related: JPMorgan identifies the lone buyer saving crypto flows
Zhao sentenced to prison over AML violations
Zhao was sentenced on Apr. 30, 2024, after pleading guilty to violating U.S. anti-money laundering laws tied to Binance's operations.
U.S. authorities accused the exchange of failing to implement an effective compliance program under the Bank Secrecy Act, allowing illicit transactions to flow through the platform.
As part of the settlement, Binance agreed to pay $4.3 billion in fines, while Zhao stepped down as CEO and paid a $50 million personal penalty.
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Prosecutors had sought a significantly longer sentence, but the court ultimately imposed a four-month prison term.
CZ says decision aimed at protecting Binance and crypto
In an AMA with Scott Melker , host of The Wolf Of All Streets podcast, on Apr. 8, 2026, Zhao said remaining abroad was a viable option, but carried broader risks.
"I would be fine living in UAE… I have enough bitcoins. I can maintain my living standard," Zhao said.
However, Zhao framed the decision as one that went beyond personal freedom, pointing to the systemic risks facing Binance at the time.
"If I didn't go, they would probably… indict me, they can indict Binance. The company will be very affected," he said.
He added that the potential fallout could extend far beyond the exchange itself.
"There will be a lot of negative effects for BNB holders… and the crypto industry in general," Zhao said.
Zhao also explained that his expectations were shaped by past enforcement patterns in similar cases, which influenced his risk assessment before returning to the U.S.
"To be very frank, I did not expect that I would go to jail," Zhao said.
He said he had anticipated a lighter outcome, potentially similar to other crypto executives who received home confinement instead of prison time.
Instead, Zhao described a gradual escalation in legal pressure after arriving in the U.S., culminating in a more severe-than-expected outcome.
CZ released after serving sentence, later pardoned
Zhao was released from a U.S. correctional facility in Sep. 2024 after completing his sentence.
In Oct. 2025, U.S. President Donald Trump granted Zhao a full pardon , lifting restrictions tied to his conviction.
The pardon reopened debate over crypto regulation and political ties to the industry, particularly as Trump signaled a more pro-crypto stance.
Zhao has since maintained a public presence in the crypto space, with his latest interview offering one of his most detailed accounts of the legal saga and its aftermath.
Related: YouTube takes down multiple crypto channels over 'harmful' content
This story was originally published by TheStreet on Apr 9, 2026, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.
