After being pardoned by President Donald Trump, suggestions emerged that Changpeng Zhao might seek a refund of $4.3 billion paid as part of a settlement with the DOJ. CZ responded – and sparked another debate.
Zhao claims he does not expect a refund of the fine.
His use of 'my' raises questions about his role in Binance.
CZ responds to speculation
Anndy Lian suggested that Binance 'probably' did not ask the USA for a refund of $4.3 billion paid in 2023 as part of the settlement. Changpeng Zhao addressed this by stating that the pardon itself is 'sufficient' for him and that there is a fine line between asking for more and appreciating what has been received. He also added that if any refund does appear, 'we will invest it in America.'
It was this 'we' that caused the confusion – CZ is no longer officially directing Binance and under the terms of the settlement cannot represent the company. The settlement itself included $2.5 billion in confiscation and $1.8 billion in fines paid by the exchange, and Zhao additionally paid a personal fine of $50 million.
Trump's clemency from October 2025 closed the legal consequences related to his admission of AML violations. Earlier, Zhao served a four-month sentence for, among other things, allowing the flow of funds linked to terrorism and cyberattacks.
The president's decision faced sharp criticism from the Democrats. Maxine Waters called it 'shocking,' and Senators Warren and Schiff submitted a resolution condemning the act of clemency.
The controversies are not new — politicians have been raising concerns for months about Binance's connections to projects associated with the Trump circle, including MGX's investment in the USD1 stablecoin in 2025.
