CZ’s attorney calls accusations false and frames pardon as a matter of justice amid crypto crackdown
Changpeng “CZ” Zhao, co-founder of Binance, was pardoned by former U.S. President Donald Trump in October following a prison sentence related to alleged failures in Anti-Money Laundering (AML) compliance. Critics, including Senator Elizabeth Warren, suggested the pardon could reflect “pay-to-play” dynamics, citing CZ’s previous involvement with Trump’s crypto ventures.
CZ’s personal attorney, Teresa Goody Guillén, has strongly denied these allegations, describing them as a “pile up of false statements” and highlighting misrepresentations in media and political narratives.
Attorney Rejects “Pay-to-Play” Allegations
Appearing on the Pomp Podcast, Guillén criticized claims that CZ purchased his pardon. “People are making these assumptions that show a fundamental misunderstanding of how either business works or how blockchain works,” she said. Guillén also questioned the political immunity of critics like Senator Warren, arguing that some accusations wrongly assert criminal liability where none existed.
CZ spent four months in prison in 2024, after which he stepped back from Binance operations. Trump’s pardon emphasized that CZ’s actions “weren’t a crime,” according to the former president.
Pardon Framed as Justice Amid Crypto Crackdown
Guillén argued that the pardon was a matter of justice, asserting that CZ became a scapegoat in the broader regulatory crackdown on crypto following the FTX collapse. “He’s the only person ever prosecuted and sent to prison for this specific charge — with no fraud, no victims, and no criminal history,” she said, framing the case as part of the “war on crypto.”
She highlighted discrepancies between treatment of crypto executives and traditional finance, noting that similar infractions in the traditional finance sector often go unpunished. Guillén emphasized that the pardon reflects recognition of this imbalance rather than any improper influence.
Public Perception and Political Criticism
Critics, led by Senator Warren, questioned the pardon’s timing and CZ’s connections to Trump-affiliated ventures. Guillén refuted these claims, stating that media coverage has often conflated unrelated business ties with wrongdoing.
“This is actually an area where I’m hoping that we pay more attention, because the immunity granted to these folks is not what our founding fathers had intended,” Guillén said, pointing to the broader issue of political accountability.
While political and public scrutiny continues, CZ’s lawyer maintains that the pardon was granted on principled grounds, rather than as part of a financial or political transaction. The case underscores ongoing tensions between regulators, lawmakers, and the evolving crypto industry.
Amid the crypto sector’s turbulent regulatory landscape, CZ’s pardon has sparked debate over fairness, justice, and the treatment of digital finance executives.
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