Crypto industry executives and analysts are abuzz with speculation about Binance’s potential re-entry into the United States following a pivotal development: the presidential pardon of Binance founder Changpeng “CZ” Zhao. On Thursday, US President Donald Trump granted CZ a pardon, a move that has reignited hopes and conversations about the world’s largest crypto exchange making a comeback in the US market.
In a statement on X, CZ expressed his commitment to advancing the crypto ecosystem, declaring, “Will do everything we can to help make America the capital of crypto and advance Web3 worldwide.” Adding intrigue, CZ updated his X bio from “ex-Binance” to simply “Binance,” fueling rumors about his return to the exchange and its possible renewed presence in the US, as reported by Bloomberg.
David Namdar, CEO of BNB Network Company, highlighted the significance of this pardon as more than just a turning point for CZ but also a potential gateway for BNB and Binance to gain greater access to American investors. Despite its strong market resilience and recent rally to all-time highs, BNB has remained largely overlooked by Western investors until now.
The return of Binance to the US market could open doors for retail traders to access the largest centralized crypto exchange globally, potentially increasing trading volume and driving asset prices up. Since 2019, Binance has operated Binance.US, a separate entity complying with US regulations and managed by BAM Trading Services, but without access to the global exchange’s liquidity or crypto derivatives.
While Trump praised CZ, citing widespread support for the pardon within the crypto industry and alleging persecution by the Biden administration, the move faced criticism from prominent US lawmakers, including Democrats such as Representative Maxine Waters and Senator Elizabeth Warren. Waters condemned the pardon as evidence of “pay-to-play” practices, suggesting undue influence by the crypto sector on Trump. In response, CZ defended himself on social media, clarifying that he pleaded guilty only to a single felony count of violating the Bank Secrecy Act related to anti-money laundering program shortcomings and served a four-month sentence in April 2024.
This development marks a significant chapter in the evolving relationship between Binance and the US regulatory landscape, with many watching closely to see if CZ’s pardon will pave the way for a major crypto comeback on American soil.
Read more at: https://cointelegraph.com/news/binance-cz-pardon-us-return