Changpeng “CZ” Zhao has a presidential pardon, no active legal threats, and a multibillion-dollar stake in the world’s largest crypto exchange. But in a recent CoinDesk interview, the Binance founder struck an unusually cautious note, admitting he “cannot predict” whether the next US administration might come after him with fresh subpoenas.
The pardon, the past, and the lingering question
In November 2023, Binance and CZ entered guilty pleas for anti-money laundering and sanctions compliance failures. No fraud charges were filed, but the resolution was enormous: a $4.3 billion settlement that included a $1.8 billion criminal fine. CZ stepped down as CEO and eventually served his prison sentence of four months during 2024.
In October 2025, President Trump pardoned CZ for the 2023 Bank Secrecy Act violations. But pardons have limits. They cover specific offenses, not a blanket shield against all future scrutiny.
Why CZ thinks crypto is too big to undo
