Following speculation about a potential comeback, Changpeng Zhao, known as CZ, the co-founder and former CEO of Binance, has fueled discussions about the implications of his recent presidential pardon for stock exchange operations in the United States.
Will CZ return as CEO at Binance?
Industry observers suggest that this major development for CZ and Binance as a whole could pave the way for Zhao to retake the leadership role and consolidate Binance’s US operations.
According to The company is exploring several options, including integrating Binance.US into its global operations or bringing its global exchange to the U.S. market, a source familiar with the matter told Bloomberg.
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“This cycle is largely driven by US institutional investors and investment products, and this is exactly where Binance can now shift its focus,” said Markus Thielen, CEO of 10x Research.
He added that the U.S. subsidiary will likely be reintegrated into Binance’s global ecosystem, providing U.S. investors with direct access to “deep liquidity and a comprehensive derivatives offering.”
Attention now turns to whether Zhao will try to throw up the role of the CEO previously moved away from. In recent weeks, he updated his profile on social media platform X from “ex-Binance” to simply “@Binance,” a subtle change that fueled speculation about his intentions.
However, not everyone believes Zhao wants to return to the CEO position. David Namdar, who runs the BNB treasury firm backed by Zhao’s family office, commented: “I think he is working with more weight on his shoulders because he is not running the exchange. I would be surprised if he returns to that role.”
Industry leaders predict increased involvement
Patrick Horsman, Chief Investment Officer a treasure trove of digital assets (DAT) company Applied DNA Sciences, which invests in Binance Coin (BNB), emphasized that Binance’s technology, liquidity and relatively low fees could position Binance as a dominant player in the US crypto market.
However, Bloomberg emphasizes that the pardon could not only improve Zhao’s personal prospects, but also open up new opportunities for Binance’s global expansion.
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Namely, the company holds minority stakes in subsidiaries across Asia, including Thailand and Malaysia, where regulatory frameworks impose ownership eligibility tests on major shareholders.
“A criminal conviction can be a barrier to any individual seeking a beneficial ownership interest in a regulated or listed company,” explained Chris Holland, partner at HM, a Singapore-based consultancy.
Cosmo Jiang, a general partner at Pantera, predicts that Zhao will “become more involved in Binance’s operations” now that he has been pardoned. “Whenever a founder comes back to a company, it’s always an invigorating moment; you usually see more growth and better execution,” he noted.
Featured image from DALL-E, chart from TradingView.com
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