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Binance Founder Zhao Denies Business Ties with Trump Family After Pardon

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Published Jan 23, 2026
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A hand places a Binance coin replica on a model of the White House, with the U.S. presidential seal in the background—hinting at Zhao’s crypto influence near the halls of power.
Summary:

  • Changpeng "CZ" Zhao stated that there are "no business relationships whatsoever" with the Trump family.
  • Zhao served four months in prison for money laundering and was released in September 2024.
  • Former President Trump pardoned Zhao in October 2025, raising questions about a $2 billion investment from MGX using a stablecoin.

Zhao's Relationship with the Trumps

Changpeng "CZ" Zhao, the founder of Binance, addressed claims about his business relationships with the Trump family, stating there are "no business relationships whatsoever."

This statement came during an interview with CNBC's Andrew Ross Sorkin at the World Economic Forum in Davos, Switzerland.

Background on Zhao's Legal Issues

Zhao pleaded guilty to charges of enabling money laundering in 2023 and served four months in prison. He was released in September 2024.

In October 2025, former President Donald Trump granted him a pardon, which attracted scrutiny regarding a significant investment in Binance.

The $2 Billion Investment

The pardon raised questions about a $2 billion investment made in March 2025 by Abu Dhabi's state-owned firm, MGX. This investment was paid using USD1, a stablecoin issued by World Liberty Financial, a company associated with the Trump family.

Zhao explained that accepting USD1 as payment was not an endorsement of the stablecoin's issuer, stating, "Stablecoin is just a currency for payment." He further clarified, "Just because I accepted that, it doesn't mean I invested in the issuer of that."

Lobbying Activities Post-Pardon

Following Zhao's pardon, it was reported that lobbyist Charles McDowell's firm received $450,000 to lobby the White House and Treasury Department on issues related to digital assets and cryptocurrency.

Zhao denied any knowledge of a deal that would connect him to receiving the pardon, stating, "As far as I know, that does not exist at all." He also mentioned that he had not spoken directly with Trump since his release.

What Comes Next for Zhao and Binance?

Despite the controversies surrounding his pardon and the investment from MGX, Zhao remains a major shareholder of Binance. He had stepped down as the CEO of the company in 2023 as part of his plea agreement, which included a $4.3 billion settlement with the Department of Justice.

Zhao's future involvement in Binance and the broader cryptocurrency market remains to be seen as he continues to navigate the aftermath of his legal issues.

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