Binance Co-Founder Zhao Granted Pardon, Eyeing US Comeback

In a significant development for Binance, the co-founder and former CEO, Changpeng Zhao (known as CZ), has received a presidential pardon. This major event has fueled speculation about the implications for Binance's operations in the United States.

Industry observers suggest that Zhao's pardon could pave the way for him to resume leadership roles and consolidate Binance's US operations. According to a source familiar with the matter, Binance is exploring several options, including the possibility of integrating Binance.US into its global operations or having its global exchange enter the US market directly.

Markus Thielen, CEO of 10x Research, believes this move could allow Binance to shift its focus to the US institutional investor market, which is driving the current crypto cycle. He anticipates that the US affiliate will likely be reintegrated into Binance's global ecosystem, providing US investors with direct access to the platform's deep liquidity and comprehensive derivatives offerings.

However, not everyone believes Zhao is eager to return as CEO. David Namdar, who manages a BNB treasury company backed by Zhao's family office, commented that Zhao may prefer to operate with less of a burden, suggesting he may not step back into the CEO role.

Nonetheless, the pardon is expected to unlock new opportunities for Binance's global expansion, as it could remove barriers for the firm's minority stakes in affiliates throughout Asia, where regulatory frameworks impose ownership suitability tests on major shareholders.