- Changpeng Zhao has confirmed that his legal team has filed a US presidential pardon request after previous denials of a deal with the Trump family.
- He also expressed concerns about the rise of memecoins, which he believes distract from more valuable crypto projects.
Changpeng Zhao, the founder of Binance, has confirmed that his legal team has filed an official request for a US presidential pardon. This announcement comes a few months after Zhao dismissed rumors of a potential pardon deal involving the Trump family, which had made headlines in the Wall Street Journal. At that time, it was reported that the Trump family sought to acquire a stake in Binance.US in exchange for granting Zhao a pardon—a claim Zhao vehemently denied on social media.
However, Zhao’s recent confirmation that a pardon request has been submitted suggests that his legal team is now pursuing a formal path to resolve ongoing issues related to his involvement in crypto-related regulatory challenges. Speaking on the Rug Radio podcast, Zhao revealed that the application had been filed about two weeks ago, following the media reports that prompted his decision. He acknowledged that he remains open to the idea of a pardon, especially considering the legal struggles he has faced in the past.
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While the pardon request is a major move in his ongoing legal battle, Zhao also took the opportunity to address a growing concern in the crypto space—the rise of memecoins. Zhao criticized the market’s fascination with these highly speculative tokens, arguing that they were a “red flag” in the current ecosystem. He pointed out that while memecoins often fail due to their inherent risk and short-term nature, they still draw significant attention away from more sustainable, utility-driven crypto projects. According to Zhao, the focus on memecoins has hindered the development of more valuable blockchain innovations, especially in light of regulatory scrutiny from the US Securities and Exchange Commission (SEC).
Despite these concerns, Zhao expressed optimism for the future of the crypto industry. He praised the pro-crypto stance of the Trump administration, highlighting its shift in policies as a sign of progress for the industry. Zhao’s remarks reflect a broader sense of hope for the return of serious crypto builders, now that the regulatory environment is becoming more favorable.
In the ever-evolving world of cryptocurrency, Zhao’s confirmation of the pardon request and his reflections on the future of the industry offer a glimpse into the complex dynamics that are shaping the space today