An unexpected question has arisen for Binance founder Changpeng Zhao, also known as “CZ,” regarding whether the US government might return Binance’s $4.3 billion settlement following his presidential pardon. The question received an immediate response from CZ, whose reply caught the attention of the broader crypto community, adding yet another layer of intrigue to the widely discussed situation.
Will The US Government Refund Binance’s $4.3 Billion Settlement?
Anndy Lian, a business strategist in Asia, posed a direct question to CZ in an X social media post on Monday, asking whether the US government would refund the $4.3 billion fine paid by Binance now that the founder has been pardoned. CZ acknowledged the question’s sensitivity and explained that he values the presidential pardon already granted to him.
He said that there is a need to balance gratitude with what might be considered fair in light of recent developments. The Binance founder also stated that if any portion of the settlement were ever returned, he would direct the money into investments inside the US as a gesture of respect. He further added that he has not made any request nor taken any step toward seeking a refund.
The fine in question traces back to November 2023, when Binance agreed to pay $4.3 billion to settle major enforcement actions brought by several US agencies, including the Department of Justice (DOJ), the Office of Foreign Assets Control (OFAC), the Commodity Futures Trading Commission (CFTC), and the Financial Crimes Enforcement Network (FinCEN).
The coordinated actions involved allegations related to sanctions breaches, failing to maintain a strong anti-money laundering program, and others. Notably, CZ faced personal consequences during this period. He pleaded guilty to violating the Bank Secrecy Act and agreed to step down as Binance’s CEO, while paying a $50 million penalty. He was later sentenced to four months in prison in April 2024, after pleading guilty to enabling money laundering activities at his crypto exchange.
New Clarity Emerges On CZ’s Presidential Pardon
Further insight into the Binance founder’s pardon surfaced in a recent interview conducted by Anthony Pompliano, the co-founder of Morgan Creek Digital, with CZ’s lawyer, Teresa Goody Guillen. In the YouTube interview, Pompliano asked Guillen to address the lingering questions surrounding why CZ received a pardon from US President Donald Trump.
Guillen explained that the pardon was issued because the prosecution should not have occurred under the circumstances of his case. She emphasized that even the US President viewed the conviction as unjust and did not believe CZ had committed crimes warranting such treatment. She further added that the Binance founder held no criminal history, engaged in no fraud, and was connected to no identifiable victims, yet received a sentence harsher than any historically imposed for that specific charge.
Pompliano also raised the issue of possible play-to-play dynamics or corruption influencing the pardon. Guillen dismissed such theories, describing them as misinformation and assumptions. She stated that she had seen nothing indicating the presence of any improper exchange or influence, behind the presidential pardon, especially pertaining to CZ’s alleged connection to World Liberty Finance, a Trump-linked crypto venture.
Chart from Tradingview.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
#Government #Refund #Binances #Billion #Pardon #Crypto #Exchange #Founder #Answers