From pardon to redemption: CZ reflects on his journey and his commitment to crypto

In an interview with CNBC, Changpeng Zhao (CZ), the co-founder and former CEO of Binance, shared deep insights into his experience of imprisonment, the presidential pardon granted by Donald Trump, and his renewed vision for the future of cryptocurrency. This conversation not only reveals CZ’s personal journey but also his ongoing impact on the crypto ecosystem.

A Transformative Pardon: From Imprisonment to Freedom

CZ described his time in prison as an extremely difficult ordeal, both physically and emotionally. He revealed that his first cellmate was a criminal convicted of double homicide, which made his early days in detention particularly challenging. Although he initially believed he could benefit from house arrest after pleading guilty to money laundering charges, CZ ultimately had to serve his full sentence in prison.

Despite the shock and harshness of the situation, CZ showed remarkable resilience. He told himself internally: “It won’t be fun, but I will just get through it… It’s just another day.” This attitude helped him maintain his emotional balance in the face of adversity.

The arrival of the pardon marked a major turning point. CZ emphasized that he had never met Trump in person before the pardon, simply waiting for the presidential decision to be made. Once the pardon was granted, CZ expressed sincere gratitude toward Trump, while also dispelling rumors that Binance had benefited from privileged connections with the Trump family. He clarified that shared interests in crypto explained the Trump administration’s support for the industry, rather than specific personal or business ties.

After the Pardon: Mentorship, Advice, and Optimism for Bitcoin

Three months after his release, CZ described his emotional state: “Psychologically, it’s like a burden has been lifted. I was a free man before but with the status of a criminal. But now, I am truly a free man.” This renewed sense of freedom propelled him toward new missions.

Since his pardon, CZ has been involved in several strategic areas. He actively mentors founders working within the Binance Smart Chain ecosystem, notably through his involvement with Easy Labs. He also leads Giggle Academy, a free educational platform dedicated to democratizing knowledge about cryptocurrency. Meanwhile, CZ serves as a consultant for a dozen governments around the world, advising on cryptocurrency regulation, tokenization, and stablecoin design.

A notable point: CZ has ceased active cryptocurrency trading. While he maintains long-term positions in Bitcoin and Binance Coin (BNB), he avoids short-term operations, citing past losses and his belief that building sustainable systems takes precedence over trying to time market movements.

Regarding long-term prospects, CZ remains resolutely optimistic. He envisions a potential “Super-Cycle” by 2026 that could redefine the traditional four-year cycle observed in Bitcoin. This optimism is based on increasing political support for crypto in the United States and similar dynamics in other global jurisdictions.

Lessons from the Beginnings: CZ Acknowledges Binance’s Compliance Failures

In a demonstration of responsibility, CZ acknowledged the compliance failures that marked Binance’s early years. One of the most problematic decisions was allowing U.S. users to access the platform from day one, even though Binance was just a small tech startup based in Shanghai, without adequate regulatory infrastructure. This practice later violated provisions of the Bank Secrecy Act.

Reflecting on this negligence, CZ stated: “If I could do something over, it would be not to have allowed U.S. users to access the platform from day one.” This admission underscores the crucial importance of regulatory compliance, even for innovative young companies. It also reveals how lessons from the past, especially those related to forgiveness and redemption, shape a more mature approach to governance and responsibility in the crypto industry.