Biden

Ross Ulbricht

Silk Road

World Liberty Financial

Binance<a href="https://yellow.com/asset/bnb" rel="noopener noreferrer nofollow">(BNB)</a> co-founder Changpeng Zhao says the Biden administration targeted him to send a warning to the broader crypto industry.
<h2 id="cz-prison-sentence-explained">CZ Prison Sentence Explained</h2>
Zhao, widely known as CZ, <a href="https://www.foxbusiness.com/video/6393096911112" rel="noopener noreferrer nofollow">told</a> Fox Business host Charlie Gasparino on Tuesday that the previous US administration was "openly declaring war on crypto."
He said regulators tried to "make an example" out of him and Binance because they were the biggest players in the market.
<blockquote>
 The former chief executive served four months in federal prison between June and September 2024.
</blockquote>
CZ <a href="https://bitcoinist.com/binance-cz-says-biden-admin-make-an-example-of-him/" rel="noopener noreferrer nofollow">pleaded</a> guilty in 2023 to violating the Bank Secrecy Act and paid a $50 million personal penalty.
Binance itself agreed to pay more than $4 billion to resolve a Department of Justice probe that same year.
Zhao stressed that he faced a single charge, with no money laundering, "no fraud," and "no victims." He argued that no one in US history had gone to jail on that charge alone before his case.
Also Read:<a href="https://yellow.com/news/world-liberty-financial-insider-token-burn" rel="noopener noreferrer nofollow">World Liberty Financial Demands Insiders Burn 10% Of Their WLFI Or Stay Locked</a>
<h2 id="trump-pardon-surprise">Trump Pardon Surprise</h2>
The Binance founder said <a href="https://yellow.com/news/trump-pardons-binance-founder-changpeng-zhao-clearing-path-for-crypto-moguls-return-to-business" rel="noopener noreferrer nofollow">President Donald Trump's October pardon</a> did not shock him, but the timing did.
<blockquote>
 "The timing was not known to me; this is a black box process. You submit the petition and just wait," CZ said.
</blockquote>
He had expected relief after Trump pardoned Silk Road founder Ross Ulbricht and former BitMEX chief Arthur Hayes earlier in the year.
Zhao also rejected claims that he paid for the pardon, telling Fox Business he has no business, investment, or shareholding ties to Trump or the first family.
The pardon drew fierce pushback from members of Congress, who questioned Trump's rationale and flagged possible conflicts of interest. In November, Trump said he did not know Zhao personally but viewed him as another "victim of weaponization" by the prior administration.
Read Next:<a href="https://yellow.com/news/binance-chat-crypto-transfers-feature" rel="noopener noreferrer nofollow">Binance Launches Built-In Chat Feature To Merge Messaging With Crypto Transfers</a>

CZ Says Biden Wanted To Make An Example Out Of Binance, Denies Paying For Trump Pardon

Table of Contents

Yellow News

Other articles published on Apr 16, 2026

Join our free newsletter for daily crypto updates!