For the first time, Binance founder Changpeng "CZ" Zhao has publicly confirmed that his legal team has officially submitted a formal request for a presidential pardon from the US government.

This statement comes amid months of media speculation and controversy, with many media outlets speculating that CZ could be secretly selling out Tron founder Justin Sun to the Department Justice in exchange for a plea deal.

Decision to Apply Follows Media Reports

In a May 5 interview on the Rug Radio podcast with host Farokh Sarmad, Zhao was desperate to paint the picture that the decision to file the pardon request only came after major news outlets like Bloomberg and The Wall Street Journal started published articles suggesting he was seeking clemency.

This contradicts the narrative that was painted by the local media, which speculated that CZ has been working in secrecy with the American authorities to negotiate a plea deal.

Zhao joked that since the media outlets are already painting this persona, then he must as well just tap into it.

“I got lawyers applying, and we only submitted after the Bloomberg article and the WSJ article came out. And then I was like, well, if they’re writing this article, I might as well just officially apply, right?”

Zhao pleaded guilty in November 2023 to a money laundering charge as part of a $4.3 billion settlement between Binance and US authorities.

As part of his punishment, he paid a $50 million fine and stepped down as CEO. Subsequently, he served a four-month prison sentence and was barred from working at Binance under the plea agreement.

The US Department of Justice also revealed that while a presidential pardon would not erase Zhao’s conviction, it could potentially restore his ability to assume a management or operational role at Binance.US.

Since entering the White House, President Trump has granted pardons for numerous crypto figures, such as BitMEX CEO Arthur Hayes and Silk Road founder Ross Ulbricht, among many others.

Denial of Alleged Deal with Trump Family

The Wall Street Journal has also speculated that while he was negotiating with the U.S Department of Justice, CZ was also striking a secret deal with Trump and his family to increase his chances of being granted a pardon.

According to the reports, CZ also promised to allow Trump's family crypto business to tap on Binance's 250 million user base to make the project's stablecoin the world's most stablecoin.

Zhao has consistently denied these allegations, calling them politically motivated fabrications with no factual basis.

CZ also called all these reports part of the smear campaign and a concerted effort from competing companies to take him and Binance down.

During the podcast, CZ also reiterated the same sentiment, criticizing the traditional media for targeting high-profile individuals with negative and one-sided narratives.

“From my perspective, like, the traditional media-they pick their target, they pick their person, and then they try to go after them, right? So they pick Elon, they pick Donald Trump, they pick myself, and many others. And the narrative is very consistent-once they pick you, it’s just completely negative. Negative articles about you.”

CZ has no plans to return to Binance

While this pardon would allow him to return to his leadership post at Binance, but CZ has made it clear that he has no intentions of doing so.

While he remains a major shareholder of the company, but he said in November at Binance Blockchain week that he has "no plans to return to the CEO position."

CZ also praises the good work his team is doing and how it has progressed to be independent and functional with or without him.

"I feel the team is doing well and doesn't need me back."

While CZ has no intentions of returning to Binance, but that doesn't mean he is ready to leave the crypto world entirely. Since leaving prison, he has taken a more advisory role, especially after he became the official crypto advisor of both Pakistan and Kyrgyzstan.

Praise for Trump’s Business-Style Diplomacy

During the interview, CZ also expressed his admiration for the President's leadership style, particularly in trade negotiations.

He praised Trump's unorthodox approach to diplomacy, which CZ describes is more business-like rather than the typical geopolitical-style negotiation.

“It’s not your typical geopolitical-style negotiation. It’s actually a very typical business type of negotiation. In business, you go super high, then go low, then high again-you fluctuate until you eventually land at a spot that works. That’s very common in the business world.”

Zhao described Trump as a “deals guy” who understands leverage and strategic positioning. While acknowledging that such tactics can disrupt industries and economies, Zhao found this approach more straightforward and transparent than conventional political posturing.