Binance co-founder and former CEO Changpeng "CZ" Zhao has denied reports claiming he negotiated a deal with Trump's family for a stake in Binance.US in exchange for a presidential pardon.
In a post on X on March. 13, CZ dismissed the Wall Street Journal's claims, stating, "I have had no discussions of a Binance US deal with … well, anyone."
He further suggested that the article was an attempt to attack both President Trump and the crypto industry, describing it as a continuation of the "war on crypto" from the previous administration.
CZ also pointed out that more than 20 people had reached out to him, saying they were asked by reporters if they could confirm a pardon deal, implying that the media was actively trying to construct a story.
"No felon would mind a pardon," CZ admitted, but emphasized that he was the only person in U.S. history to be sentenced to prison for a single Bank Secrecy Act (BSA) charge. He ended his post on a lighter note, joking, "It's good to see that even WSJ thinks I should be pardoned."
Binance's alleged strategy to reenter the U.S.
The WSJ report alleged that Binance had been trying to strike a business deal with the Trump family as part of an effort to reestablish itself in the U.S.
The exchange pleaded guilty to violating anti-money-laundering (AML) laws in 2023 and agreed to a $4.3 billion settlement. CZ himself stepped down as CEO and served four months in prison, but he remains Binance's largest shareholder.
The report also suggested that CZ was taking inspiration from Justin Sun, the founder of Tron, who was sued by the SEC in 2023 for selling unregistered securities. Sun reportedly invested $30 million in World Liberty Financial, a crypto venture backed by the Trump family, in late 2024. Shortly after, the SEC and Tron jointly urged a court to halt proceedings against Sun.
Similarly, Binance and the SEC urged a court in February 2025 to pause a separate civil case against the exchange and its U.S. arm. The WSJ report claimed that Binance executives had considered investing in World Liberty Financial as part of a strategy to secure a pardon for CZ.
