In recent days, the crypto world has been shaken by a surprising piece of news: according to some Chinese sources, the former CEO of Binance Changpeng Zhao, known as CZ, has allegedly received a presidential pardon from Donald Trump.
However, the co-founder of the exchange, Yi He, promptly denied the news, calling it completely false.
The rumor, initially spread by the Chinese media BlockBeats and then quickly removed, had made its way around the web, fueling speculations about a possible political intervention in favor of CZ. But Yi He clarified the situation with a direct and unequivocal message.
“If there were good news, I would immediately communicate it to everyone,” stated Yi He in a note sent to Odaily Planet Daily, a blockchain publication based in China.
No official evidence on the Department of Justice website regarding Trump’s pardon for CZ
A check on the official website of the United States Department of Justice confirms what Yi He stated: there is no record of a presidential pardon granted to CZ.
The rumors circulating online therefore seem unfounded and the result of a misinterpretation — or of a premature media move.
In the meantime, Changpeng Zhao himself confirmed that he has indeed applied for clemency, during an interview given to the program Rug Radio hosted by Farokh Sarmad.
According to what was stated, his legal team initiated the formal procedure last April.
Even though CZ did not receive clemency, his request is part of a context in which several key figures in the crypto sector have already benefited from similar acts in the past.
During his term, Donald Trump granted presidential clemency to the founders of BitMEX – Arthur Hayes, Benjamin Delo, and Samuel Reed – involved in legal controversies related to illegal trading.
Additionally, the case of Ross Ulbricht, creator of the Silk Road marketplace, is well-known. He received partial judicial relief after years of protests from the crypto community.
The possibility that Trump grants a pardon to CZ, therefore, cannot be ruled out a priori, but at the moment remains just an unconfirmed hypothesis.
As often happens in the world of cryptocurrencies, this news also had an immediate effect on the market. The token BNB, native to Binance, recorded a slight bull as soon as the rumor of the pardon spread, but the enthusiasm was short-lived.
Within a few hours, and with the official denial from Yi He, the price returned to previous levels.
According to the data provided by CoinMarketCap, BNB is currently trading at approximately 645 dollars, with minimal variations in the last 24 hours.
The short rally once again confirms how the sentiment of the crypto market is influenced by news, even if unverified.
Why CZ is in the crosshairs of justice
Changpeng Zhao resigned from the position of CEO of Binance in 2023, after reaching an agreement with the US authorities.
CZ admitted violations related to anti-money laundering and agreed to pay a fine of 50 million dollars. Meanwhile, Binance agreed to an overall penalty of 4.3 billion dollars, one of the highest ever imposed in the crypto sector.
The agreement, although it avoided a long and complex trial, did not prevent CZ from having to face criminal consequences. Currently, he is in the United States awaiting the outcome of the judicial proceedings.
The request for clemency made by CZ represents a bold legal and political strategy, especially considering Donald Trump’s growing interest in the crypto world.
The tycoon has recently intensified the dialogue with the Web3 community, presenting himself as a defender of digital innovation.
However, obtaining clemency is neither a quick nor guaranteed process, and it will have to go through several formal and political steps.
In the meantime, the Binance team continues to maintain a low profile, trying to consolidate its position in the global market and regain the trust of users.
Conclusion
The official denial by Yi He puts an end to the speculations about the presidential pardon for CZ. At the moment, there is no confirmation either legally or politically.
However, the fact that Zhao has indeed submitted a request opens a new chapter in the relationship between politics and cryptocurrencies.
In an era in which regulation is increasingly at the center of the debate, cases like this highlight the complexity and challenges of a sector in constant evolution.