Crypto industry insiders and analysts are abuzz with speculation over whether Binance, the world’s largest crypto exchange by trading volume, is poised to make a comeback in the United States following the pardon of its founder, Changpeng “CZ” Zhao. After receiving the pardon from former US President Donald Trump, CZ expressed his commitment to making America “the capital of crypto” and advancing Web3 globally. He also updated his social media profile from “ex-Binance” to simply “Binance,” sparking further rumors of his return and Binance’s potential re-entry into the US market.
David Namdar, CEO of BNB Network Company, highlighted the significance of CZ’s pardon, calling it a turning point not only for BNB but also possibly for Binance itself, opening doors to greater US market access. Despite facing regulatory hurdles, Binance had previously spun off Binance.US in 2019, a separate entity operated by BAM Trading Services, which serves American traders without access to the global platform’s liquidity or derivatives.
The prospect of Binance’s full return could benefit US retail traders by providing access to the largest centralized exchange worldwide, potentially boosting trading volumes and asset prices. However, the pardon remains controversial among US lawmakers. While Trump claimed that CZ was widely supported in the crypto industry and unfairly targeted by the current administration, prominent Democrats like Rep. Maxine Waters and Senator Elizabeth Warren criticized the pardon, framing it as a sign of “pay-to-play” influence.
CZ has defended himself against accusations from critics such as Warren, clarifying that he pleaded guilty to a single felony count related to Bank Secrecy Act violations concerning Binance’s anti-money laundering controls, which led to a four-month prison sentence in April 2024.
As the debate unfolds, CZ’s pardon has undoubtedly reignited conversations about Binance’s future in the US crypto landscape, with investors and industry watchers closely monitoring the potential developments.
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