CZ Moves On From Binance CEO Role, Looks to Trump for a Fresh Start

• Binance founder is not interested in being the CEO of his exchange again.
• Changpeng Zhao resigned as the CEO after a settlement with the DoJ.
• Zhao is more interested in a pardon from Donald Trump.

Changpeng Zhao, going by CZ in the crypto world, revealed on social media that he has no plans to reclaim his role as Binance CEO, the exchange he founded in 2017. Instead, the billionaire expressed a keen interest in securing a pardon from the pro-crypto president-elect, Donald Trump. 

In a post on X (formerly Twitter), John Lilic, founder of Telos, a Web3 studio venture, urged Trump to pardon CZ so he could reassume leadership at Binance. In response, Zhao clarified that while he does not wish to lead Binance again, he is open to being pardoned.

No wish to be CEO again. But definitely wouldn’t mind a pardon.

— CZ BNB (@cz_binance)
December 2, 2024

A crypto developer on X, Grinding Poet, criticized Richard Teng, CZ’s successor as Binance CEO. The developer accused Teng of listing obscure tokens, likely referring to the inclusion of Act I: The AI Prophecy (ACT), which saw a 2,000% increase post-listing.

Additionally, another token, THENA (THE), surged by 1,000% in the past 30 days, adding to the controversy. The developer commented, “Teng is making crime great again,” highlighting dissatisfaction with the direction Binance has taken under Teng’s leadership.

CZ’s Legal Challenges and Time in Prison

As part of a settlement with the Department of Justice (DoJ) last year, CZ was sentenced to four months in prison and stepped down as Binance CEO. Zhao admitted to violating anti-money laundering (AML) laws and served time in a correctional facility in California. He was released on September 27.

Read also: CZ’s Cryptic Post Signals Resilience for Crypto After Legal Troubles

Post-release, CZ announced plans to focus on Giggle Academy, an educational project he launched. He also revealed he is writing a book. Despite his incarceration, Zhao’s net worth rose dramatically during this period, increasing from $36.5 billion to $61 billion, earning him $25 million daily while in custody.

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