CZ Dismisses Rumors of Pardon Deal with WLFI, Denies Any Trump Connection

Former Binance CEO Refutes Pardon Deal Allegations

Changpeng "CZ" Zhao, former CEO of Binance, has publicly denied allegations of a pardon deal with World Liberty Financial (WLFI). Reports suggested a connection between Binance's support for a Trump-affiliated crypto venture and Zhao's October 2025 presidential pardon. Zhao labeled these claims as baseless and categorically false.

Denials from Binance Leadership

Both Zhao and current Binance CEO Richard Teng have rejected assertions that Binance aided a Trump-related crypto initiative in exchange for a pardon. Zhao clarified that he briefly met Eric Trump at a Bitcoin conference in Abu Dhabi, but had no business dealings or discussions regarding a pardon with WLFI.

Clarifications on USD1 Transactions

Richard Teng emphasized that Binance had no involvement in the decision to use the USD1 stablecoin in the MGX transaction, a choice attributed to the Abu Dhabi-based MGX. Teng distanced Binance from any responsibility for this decision.

Trump's Response and Legislative Developments

Former President Donald Trump stated he issued Zhao's pardon at the request of reputable individuals, distancing himself from any business connection with Zhao. As legislative efforts intensify, the crypto industry closely monitors the potential passage of a digital asset market structure bill, which could transfer primary regulatory oversight to the CFTC, enhancing institutional participation.

Impact on Crypto Regulation

The proposed bill aims to bring regulatory clarity to the crypto sector, potentially influencing future market activities. Zhao's strong denial seeks to dispel rumors, while Binance and Trump also refute the allegations. As Congress pushes for essential crypto legislation, the industry remains under close scrutiny amidst evolving regulatory landscapes.