CZ Not Returning to Binance Leadership Amid Ongoing U.S. Scrutiny

Changpeng “CZ” Zhao will not be returning to lead Binance, as confirmed by his legal counsel, Teresa Goody Guillén. In a recent interview, Goody stated that despite Binance’s exit from the U.S. market, the exchange remains under strict oversight from multiple American agencies, limiting any possibility of Zhao reassuming a leadership role. She explained that regulators continue to monitor Binance closely as it adjusts operations and implements compliance changes.

The clarification follows rising speculation that Zhao might return almost two years after stepping down as CEO in late 2023. However, Zhao has made it clear that his priorities have shifted. He is now focused on YZi Labs, his family office and investment firm, devoting more time to venture investments and new business opportunities rather than returning to the crypto exchange he founded.

Goody also shed light on the presidential pardon Zhao received, emphasizing that the case centered on compliance shortcomings rather than accusations of money laundering. She highlighted that the pardon underwent an extensive review process involving the Department of Justice’s pardon attorney, the White House Counsel’s Office, and several federal agencies. According to her, the enforcement actions did not align with the regulatory nature of the issues, suggesting that Binance and Zhao were targeted as high-profile examples in the industry.

In addition, Goody dismissed speculation about alleged ties between Zhao’s pardon and political connections. Rumors circulated after WLFI, a project previously backed by Binance, launched its token and was quickly listed on the exchange—fueling claims of a link to the Trump family. Goody called these allegations unfounded, noting that USD1 operates across multiple networks, making the claims baseless. Zhao also denied any involvement, stating he had met Eric Trump only once and that the meeting had nothing to do with Binance or his legal matters.