Reports say Changpeng Zhao, known as CZ, will not return to the company he helped build even after his legal name was cleared.
US President Donald Trump issued a pardon late in 2025 that removed the criminal tag from his name. That move reopened doors that had been closed, but CZ says he prefers to stay out of day-to-day management.
Pardon And The Past
CZ pleaded guilty in 2023 to charges tied to weak anti-money-laundering controls at Binance. He accepted a deal that included large fines and operational changes for the exchange.
Binance paid roughly $4.3 billion in penalties as part of settlements with US regulators. After receiving a prison sentence, he served time in 2024 and later received clemency from Trump in October 2025.
A candid conversation from Davos – on prison, pardon, and what freedom means going forward.
Full interview on @CNBC with @andrewrsorkin. Focused on building what’s next. pic.twitter.com/x94llJFac2
— CZ
BNB (@cz_binance) January 25, 2026
A Former Exec Reflects
Zhao’s prison stay left a mark. In public talks and interviews, he described the experience as “difficult and personal.”
He has spoken about basic hardships inside and about the mental toll the period took on him. At Davos and in other forums he has been open about those days while also discussing what the future might hold for crypto.
No Return To Binance
Based on market chatter, Zhao said he does not plan to step back into a leadership role at Binance. He used phrases that made it clear he believes the exchange can run without him.
New leaders at the company are in place, and he said they should be allowed to lead. That position was repeated across several news outlets after his public appearances.
Leaders And Denials
Binance management has pushed back on claims that politics or outside deals played any part in the pardon. Company reps denied there was a link between the Trump pardon and other crypto projects tied to political figures.
Those denials were offered to calm markets and to show the company remains officially detached from political moves.
Industry Reaction & Questions
Analysts and rivals reacted with a mix of relief, doubt, and curiosity. Some think the pardon could change how US regulators approach enforcement in the future.
Others worry about the message it sends, given the amount of the penalties already paid. Markets watched closely, and some investors adjusted their views on risk and leadership at major exchanges.
A Quiet Next Chapter
Zhao’s statement that he will not come back closes one chapter while opening another. He may act as an investor, advisor, or public voice for crypto ideas, but insisted he will not reclaim the top job.
Featured image from Leadership Circle, chart from TradingView
