TL;DR
Changpeng Zhao, widely known as “CZ,” resurfaced at Mar-a-Lago in Palm Beach last week for a forum hosted by World Liberty Financial, the Trump family’s crypto venture. His highest-profile U.S. appearance since a presidential pardon is resetting the optics around Binance.US. In an interview, Zhao said he wants to “do much more business in the US” and make a “superior product” more accessible to American consumers. The remarks landed as the U.S. seeks to reassert itself as a hub for digital assets. He noted he attends many events each year.
Zhao stepped down as Binance Holdings’ chief executive in 2023 after pleading guilty to failing to maintain an effective anti-money laundering program at the global exchange, while retaining his ownership stake. He is reentering the conversation as a majority shareholder focused on Binance.US, not the global platform. “I don’t run Binance,” he said, calling that role a closed chapter and describing his expertise as technical rather than regulatory. Zhao lives in the United Arab Emirates with partner Yi He, appointed Binance co-chief executive officer in December. He said Binance.US has its own management team separately.
Zhao acknowledged Binance.US faces hurdles after losing banking access and market share following a 2023 Securities and Exchange Commission lawsuit that was dropped last year under Trump-appointed Chair Paul Atkins. He is betting that a more accommodating regulatory climate reopens pathways once considered out of reach. Zhao said deeper banking ties or even pursuing a charter are now “totally possible,” but would require the right team and legal guidance. Binance’s global entity pleaded guilty to federal charges and agreed to pay billions in fines in 2023, while Binance.US was not part of that resolution itself.
Binance has promoted World Liberty’s USD1 stablecoin, later used to settle a $2 billion investment in the exchange by Abu Dhabi-based MGX, though Binance co-CEO Richard Teng said the exchange did not choose the payment token. Those ties are amplifying conflict-of-interest questions as CZ enters Trump-adjacent circles. Zhao said teams in the BNB Chain ecosystem provided technical assistance for USD1, calling that normal for projects launching on the network. He dismissed concerns about attending the Mar-a-Lago event, saying it drew a premier group and asking what issue exists. He noted he attends many events.
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