Attorney Clarifies Details on Trump's Pardon of Binance's CZ

Attorney Sheds Light on Trump's Pardon of CZ

Binance founder Changpeng "CZ" Zhao's recent pardon by former US President Donald Trump was a standard procedure, not a secretive negotiation, according to his attorney, Teresa Goody Guillén.

Details of the Pardon Process

During a podcast with Anthony Pompliano, Goody Guillén elaborated on the formal application process, which involved multiple reviews by the Justice Department and the White House Counsel's Office. "You have to write up the justification, and then a variety of people look through it," she explained.

The attorney highlighted that Zhao's case was a regulatory issue related to compliance failures at Binance, rather than a criminal matter. "He was charged with failing to maintain anti-money laundering programs," she noted, emphasizing that no money laundering occurred.

Refuting Pay-to-Play Allegations

Goody Guillén also addressed rumors of favoritism surrounding the pardon, particularly allegations linking it to business interests between Binance, Trump-affiliated ventures, and the stablecoin USD1. She dismissed these claims as "false statements and assumptions," pointing out that USD1 operates on multiple blockchain platforms.

Furthermore, she denied any connection between Binance's use of USD1 and political ties to Trump, arguing that blockchain transparency would reveal any illicit transactions.

Future Implications

While Zhao will not be returning to lead Binance, the exchange remains under compliance oversight by US agencies. Despite this, Binance continues to operate without US customers.