Today, @cz_binance tweeted again, this time about the issue of the 4.3 billion dollar fine and refunds

CZ said that if the U.S. government refunds the 4.3 billion dollars, it will be used entirely for building America

I checked the timeline of @cz_binance being fined 4.3 billion dollars for everyone's reference

1️⃣ November 2023 — Fine incident

  • Binance announced a settlement with U.S. regulators regarding historical registration, compliance, and sanctions issues.

    • Pay a fine of 1.8 billion dollars, to be completed within 15 months

    • An additional 2.5 billion dollars in confiscated funds will be paid in installments, part of which involves transactions by U.S. users, and another part involves transactions related to Iran

  • Total fines amount to $4.368 billion.

2️⃣ 2024 — Remorse and support letters.

  • CZ writes to the judge of the Federal District Court in Washington, assuming responsibility and expressing remorse.

  • Submitted 161 letters of support, among which the letter from 'Binance's sister' He Yi to the judge is the most striking: emphasizing CZ's sense of responsibility towards the industry and likening him to a 'guardian of the wilderness'.

  • CZ subsequently serves 4 months in prison, assuming personal responsibility.

3️⃣ May 2025 — Pardon application.

  • The CZ team submits a pardon application to the Trump administration.

  • Lawmakers question whether there is a conflict of interest between CZ and the Trump family's crypto projects (such as World Liberty Financial). CZ has denied this rumor in interviews.

4️⃣ October 23, 2025 — Trump pardons.

  • Trump officially pardons CZ.

  • The White House states that the pardon underwent 'serious review', highlighting the intersection of the crypto industry and politics behind the pardon.

  • CZ expresses gratitude and is willing to help the US become the cryptocurrency capital.

5️⃣ November 17, 2025 — CZ's latest social response.

  • Regarding the post on 'whether the $4.3 billion fine will be refunded':

  • “This is a delicate issue, and I am grateful to be pardoned. Now, finding a balance between ‘asking for more’, ‘what is fair’, and ‘cherishing what we have’.”

  • If a refund occurs, the plan is to invest back in the US market and express gratitude.

  • Currently, Binance has not officially submitted a refund request.

In the short term, this fine has little impact on market volatility.

But in the long run, CZ's pardon along with the support letters greatly enhances Binance's compliance image and industry status, also signaling a return to the US market. Although compliance costs are high, they still serve as a moat for exchanges, while also showcasing new opportunities intertwined with political and market strategies.

From the fine storm to the pardon, and then to CZ's latest response, this timeline clearly depicts the panorama of Binance's return to the US market.

From Cz's tweets, it seems that Cz still wants this funding, after all, investing in the US by oneself is not the same as the US government investing in the US.