Is Changpeng Zhao plotting a comeback?
Binance founder Changpeng Zhao (CZ) fired off a string of sharp posts on X aimed at major outlets. The trigger: investigations into his possible ties to Donald Trump related to market manipulation, corruption, and the prospect of a presidential pardon.
These posts build on the dispute CZ started over a Bloomberg feature that alleged Trump and his family moved token-related activity through Binance.
With Forbes, Reuters and the Financial Times now digging in, CZ accuses top outlets of a coordinated hit and joked they had launched a joint venture… the Tinfoil Hat Club.”
The legal backdrop remains central. CZ, who pleaded guilty in the U.S. to money‑laundering and compliance violations, was released about a year ago while retaining his equity stake. Under the agreement, he paid fines (via Binance, $4.3 billion; personally, $50 million), stepped down as CEO and was barred from returning to the role.
Leadership passed to Richard Teng, noted for close ties to regulators and public‑sector experience. Meanwhile, CZ kept a lower profile alongside his wife, Yi He, who led business, marketing, and branding at Binance.
According to U.S. reporters, a formal return to the top job would likely require an official presidential pardon, precisely the angle driving the latest reporting and CZ’s pushback.
Observers say Zhao appears eager to reclaim a central role in crypto after months on the sidelines, despite earlier pledges in October 2024 to focus on philanthropy and education.
For now, his “motivational” X posts are often read by traders as signals for impending pumps. Right after the exchange with the press, CZ wrote that “markets always try to shake out the weak hands,” and a rally followed soon after.
Minute‑by‑minute spot data shared in trading channels suggests such moves frequently start on Binance, with other venues’ algorithms joining minutes later. Exchanges have not issued official comments on the synchronization of these bursts.
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