Key Takeaways
Speculation about Changpeng Zhao’s return to Binance surfaced after he updated his X profile and amid reports of Binance negotiating to end compliance monitoring early.
BNB reached a new all-time high of $963 following the rumors.
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Changpeng “CZ” Zhao is rumored to be returning to Binance after changing his X profile from “ex-Binance” to “Binance.”
The chatter is heating up as the exchange is negotiating with federal prosecutors to ease settlement terms imposed in 2023, Bloomberg reported on Tuesday.
Zhao stepped down as CEO of Binance in November 2023 under a settlement with the US Department of Justice (DOJ), the Commodity Futures Trading Commission (CFTC), the Financial Crimes Enforcement Network (FinCEN), and the Treasury’s Office of Foreign Assets Control (OFAC).
The agreement bars him from managing or operating Binance for three years once a monitor is appointed.
In a May interview with Rug Radio’s Farokh Sarmad, Zhao confirmed he had applied for a presidential pardon, with his legal team submitting the application in April.
Several crypto industry figures have previously received presidential pardons, including BitMEX co-founders Arthur Hayes, Benjamin Delo, and Samuel Reed, as well as Silk Road creator Ross Ulbricht.
BNB briefly rallied amid speculation, reaching a new all-time high of $963 on Tuesday evening. The digital asset is currently trading at around $960, up 4% in the past 24 hours, according to CoinMarketCap.
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