Changpeng Zhao (CZ) and Life After Prison

The former CEO of the world’s largest cryptocurrency exchange, Binance, Changpeng Zhao, widely known in the industry as CZ, gave a detailed interview to CNBC, in which he discussed his current situation, future plans, and the possibility of returning as CEO. In the interview, Zhao noted that despite receiving a full and unconditional pardon from U.S. President Donald Trump, returning to lead the exchange is not part of his plans.

Recall that at the end of April 2024, a court found Zhao guilty of failing to ensure adequate anti-money laundering measures on the Binance platform. He was sentenced to four months in prison. Around the same time, CZ stepped down as CEO, handing over leadership to other top managers He was released from prison at the end of September 2024, after which he did not participate in the operational activities of the exchange for nearly two years. In October 2025, U.S. President Donald Trump officially pardoned him, removing any restrictions related to the charges.

Despite this legal possibility, Zhao emphasized that he sees no need to return to management: “Technically, I received a full and unconditional pardon from President Trump, so all restrictions were lifted. But I generally don’t need to return, and frankly, I don’t want to. This was a good way for me to step away after seven years. It was painful then, but now I don’t think I should come back. It’s time to give way to other strong leaders,” CZ said.

He also highlighted that the current company leaders, Richard Teng and Yi He, do not need an outside assistant. During the two years that Zhao was absent from operational activities, Binance not only maintained its position but also significantly expanded its user base and market capitalization. “I remain a shareholder. Even before the pardon, my shareholder rights were not affected by the plea agreement. So I’m a fairly passive shareholder. And when I want to give advice, I just post about it on Twitter,” he explained.

At the same time, Zhao is not idle. He actively consults governments, works on various solutions in the BNB Chain ecosystem, and participates in educational projects, including his own Giggle Academy. He also emphasized that he himself does not engage in trading: “I consider myself more of a developer than a trader.” Nevertheless, he is confident in Bitcoin’s future and believes its growth will go beyond the traditional four-year cycle model, aided in part by support from U.S. authorities.

CZ also addressed rumors about a possible connection between Binance and the Trump family business. He stated that he has never personally met the former president and was closest to him at the World Economic Forum in Davos, at a distance of more than nine meters. “I know there were many questions about the pardon and the connection between Binance and the Trumps. As far as I know, there is no real connection. The only thing is that the Trump family is present in the crypto industry, Binance is a major player, and the Trump administration supports the sector, which helps the entire industry,” he said.

Zhao also detailed the recent investment of the state company MGX in Binance via the USD1 stablecoin of the World Liberty Financial platform. CZ noted that this decision came from the investor, and he agreed to use USD1 instead of traditional banking channels: “MGX is the investor, they chose USD1. My request was simple: pay in crypto, I don’t want to deal with banks. They asked if a stablecoin is acceptable — I agreed. They offered USD1 — I also agreed. This does not mean we invested in the issuer. There are no business ties here,” he emphasized.

CZ devoted particular attention in the interview to his experience in prison. His first cellmate was a person convicted of double murder, who had already served most of his sentence at the time of their incarceration. Zhao noted that films generally portray the prison atmosphere accurately: “There is nothing fun about it.”

Finally, Zhao said that he will provide more detailed accounts of events and his experience in his own book, which is expected to be released at the end of February or early March 2026. It will not only be a memoir but also an analysis of the industry, management strategies, and a perspective on the role of major players in the global crypto ecosystem.