Binance founder Changpeng Zhao signalled he would direct any refunded portion of the company’s past regulatory penalties into the United States, saying he intends to reinvest the money domestically as a gesture of gratitude following his recent presidential pardon.
Zhao, who received a full pardon from former U.S. President Donald Trump in late October, responded to a question by Intergovernmental Blockchain Advisor Andy Lian asking whether the government would return the approximately $4.3 billion in penalties Binance paid as part of its 2023 settlement with U.S. authorities.
“If we get any refund, we will be investing that in America anyway, to show our appreciation,” Zhao wrote, adding that he has not formally requested a refund.
He prefaced the remark by saying he was already “appreciative” of the pardon and that there was a balance between “asking for more” and accepting the outcome.
Zhao’s comment comes against the backdrop of one of the most high-profile enforcement actions in the digital-assets industry. In November 2023, he pleaded guilty to failing to maintain an effective anti-money-laundering programme and Binance agreed to billions in penalties as part of settlements with the U.S. Department of Justice, the Treasury Department and other federal agencies. Zhao later served a four-month prison sentence before being released earlier this year.
The pardon issued by Trump on October 23 was met with widespread attention given the scale of the original settlement and the symbolic weight of federal leniency toward one of the industry’s most influential figures.
Days after issuing the pardon, however, Trump said in a televised interview that he did not know Zhao personally, stating, “I have no idea who he is,” despite having granted him clemency.