**Changpeng Zhao** attended a forum hosted by World Liberty Financial (WLFI) in Mar-a-Lago on February 18, marking his first step on American soil since being released from federal prison in 2024.
In an interview with Bloomberg News at the event, Zhao stated that Binance.US wants to expand its presence in the U.S. and that under the current regulatory environment, obtaining a banking license or deeper banking partnerships is 'totally possible.'
This appearance comes a few months after Zhao received a pardon from President **Donald Trump**, drawing even more attention as it is noted that the Trump family co-founded the cryptocurrency venture WLFI, which has deep financial ties to Binance.
What happened?
Zhao, known by the nickname โCZ,โ admitted to failing to maintain an effective anti-money laundering (AML) program at Binance in 2023. At the same time, the global exchange Binance agreed to pay a $4.3 billion fine.
Zhao was sentenced to four months in prison after resigning from the CEO position and was released in 2024.
He remains the largest shareholder of Binance.US, the U.S. entity of the Binance brand registered in the U.S., which is operated by a separate management team. At the forum, Zhao stated, โI don't run Binance,โ and said that chapter 'closed.' His partner Yi He was appointed as co-CEO of Binance in December.
Zhao believes that after the U.S. Securities and Exchange Commission (SEC) dropped its 2023 lawsuit against exchanges, Binance.US has a new opportunity. The lawsuit had significantly impacted the platform's banking accessibility and market share.
He mentioned that options like building deeper banking relationships or obtaining formal bank licenses are โtotally possible,โ but emphasized that such moves must be accompanied by appropriate team formation and legal advice.
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Why does it matter?
Zhao's attendance at Mar-a-Lago has placed him back at the center of the network already under investigation by Democratic lawmakers.
According to Arkham Intelligence, Binance holds about 92% of the supply of the USD1 stablecoin. The $2 billion investment by MGX, backed by Abu Dhabi, was settled in USD1, and a CBS โ60 Minutesโ investigative report linked this deal to Trumpโs pardon of Zhao.
Binance co-CEO **Richard Teng** stated that the exchange did not choose the payment token.
Zhao explained that the technical support provided for the launch of USD1 by the BNB Chain (BNB) ecosystem is โquite normalโ for projects built on the network. When asked why his attendance raises questions, he replied that he attends dozens of events each year and questioned what the issue was.
Democratic lawmakers are not stopping their inquiries. Congressman Ro Khanna has sent an official inquiry regarding WLFI's overseas connections, setting March 1 as the response deadline.
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