Key Notes
- NYT’s profile says CZ retained a controlling Binance stake, contrasting its roughly $114 billion wealth estimate with his own $10 billion to $30 billion figure.
- MGX’s $2 billion Binance investment was settled in Trump-linked USD1, drawing Senate questions about the token’s selection and potential conflicts of interest.
- Trump pardoned CZ in October 2025, while filings report $2.1 million in Binance-related lobbying income across periods before and after the pardon.
A New York Times profile has renewed attention on Binance founder Changpeng Zhao’s wealth and political influence after his four-month prison sentence. The October 1 report examines his life in the United Arab Emirates, continuing ties to the exchange and the circumstances surrounding President Donald Trump’s pardon.
According to the profile, Zhao retained a controlling stake in Binance despite stepping down as chief executive. NYT puts his fortune at roughly $114 billion, while reporting that Zhao himself estimates it at $10 billion to $30 billion. The gap underscores the uncertainty around valuing wealth tied to a privately held exchange.
Ownership and Influence Survive His Exit as CEO
The profile portrays Zhao, widely known as CZ, as a cryptocurrency intermediary who meets political leaders and advises governments on digital assets. It describes particularly close relationships in the UAE, where he returned after serving his sentence.
His government-facing role is also documented outside the profile. Kyrgyzstan’s state news agency Kabar reported an August 2025 video call with President Sadyr Japarov about blockchain, real-world asset tokenization and cryptocurrency education. The report identified Zhao as a presidential adviser and a member of the country’s council on virtual assets and blockchain technologies.
Those activities illustrate how his influence extends beyond an executive title. Share ownership, relationships with governments and day-to-day management are distinct forms of influence; the profile’s account of his continued importance should not be read as proof that he has formally resumed running Binance.
The Criminal Case and October 2025 Pardon
The Justice Department’s case record says Zhao pleaded guilty in November 2023 to violating the Bank Secrecy Act by causing Binance to fail to maintain an effective anti-money-laundering program. His personal guilty plea was separate from Binance’s corporate resolution, which included more than $4.3 billion in penalties and compliance commitments.
Zhao subsequently served four months in prison. Trump’s official pardon warrant, signed on October 21, 2025, granted him a full and unconditional pardon. The document identifies Zhao and his individual criminal case; it is not a pardon issued to Binance itself.
The $2 Billion MGX Deal and USD1
In March 2025, Binance announced a $2 billion investment from Abu Dhabi-based MGX. The exchange described the transaction as its first institutional investment and said MGX would acquire a minority stake, with payment made in stablecoins.
The choice of stablecoin became politically significant. Senators Elizabeth Warren and Jeff Merkley later identified USD1, issued by Trump-linked World Liberty Financial, as the token used to settle the investment. That connected a major UAE investment in Binance with a cryptocurrency business in which the president’s family had a financial interest.
In June 2025, the senators requested records from MGX and Binance about how USD1 was selected, communications with World Liberty and any incentives associated with the arrangement. Their request raised conflict-of-interest concerns; it was not a court finding that the transaction was unlawful.
What the Lobbying Filings Show
Public disclosures help establish the scale and timing of Binance’s lobbying. Checkmate Government Relations reported $450,000 in Binance-related lobbying income in the third quarter of 2025 and another $450,000 in an amended fourth-quarter filing. It then reported $450,000 for the first quarter of 2026 and $750,000 for the second quarter.
That totals $2.1 million across July 2025 through June 2026. The filings list digital-asset policy and executive relief among the issues, with lobbying directed at the White House and Treasury. They do not allocate the money between those issues, and the full amount cannot be described as spending before Zhao’s pardon: the reporting periods extend well beyond October 2025.
Scrutiny Does Not Establish a Quid Pro Quo
The overlapping investment, stablecoin and pardon have prompted questions about conflicts of interest. Their sequence alone does not establish that the USD1 transaction purchased a pardon or that either arrangement was conditioned on the other.
In separate AP reporting, Zhao’s lawyer Teresa Goody Guillen rejected claims of a quid pro quo or preferential financial treatment involving Binance. The White House also denied conflicts of interest and said Trump was not involved in his family’s business deals.
Binance’s broader regulatory position remains relevant to that debate. CoinScreamer recently covered EU scrutiny of the exchange’s use of reverse solicitation under MiCA, a separate question about its access to European customers. The NYT profile’s central theme is Zhao’s continued reach despite his departure as CEO, while the public records leave the alleged connection between the investment and pardon unproven.
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