Former Binance CEO Changpeng “CZ” Zhao says he would reinvest any potential refund of Binance’s $4.3 billion settlement with the US Department of Justice back into the United States.
Key Takeaways:
- CZ says any refund of Binance’s $4.3 billion DOJ settlement would be reinvested in the United States.
- His comments follow a presidential pardon that triggered political backlash from Democratic lawmakers.
- Critics accuse CZ and Binance of financial ties to Trump’s family venture, raising concerns about the pardon’s integrity.
The comment came after author and crypto commentator Anndy Lian publicly asked whether CZ expected the US government to return the multibillion-dollar penalty following his presidential pardon.
CZ called it a “delicate question,” saying that he was already grateful for the pardon and suggested there is a balance between seeking fairness and appreciating the outcome.
CZ Says Any Refund of DOJ Fine Would Be Reinvested in the US
Addressing the issue directly, CZ said any refunded amount would be put to work inside the United States.
“If we get any refund, we will be investing that in America anyway, to show our appreciation,” he said, adding that he has not yet asked for one.
Zhao pleaded guilty in November 2023 to failing to maintain an effective Anti-Money Laundering program at Binance, a violation of the Bank Secrecy Act. He was sentenced to four months in prison in April 2024.
Binance paid over $4.3 billion in settlements, while CZ personally paid $50 million and served four months in prison before his release in September 2024.
In October 2025, Zhao was given a presidential pardon by President Donald Trump, which instantly sparked massive backlash.
Senator Elizabeth Warren led opposition to the pardon, writing that “the convergence of Mr. Zhao’s pardon application and Binance’s financial entanglements with the President’s family presents urgent concerns regarding the integrity of our justice system.”
She posted that CZ “pleaded guilty to a criminal money laundering charge” before financing Trump’s stablecoin and lobbying for clemency.
A group of Democratic senators, including Bernie Sanders, Chris Van Hollen, Jack Reed, and Mazie Hirono, sent a letter to Attorney General Pamela Bondi demanding explanations about how the pardon impacts future white-collar prosecutions.
Representative Maxine Waters particularly called the pardon “an appalling but unsurprising reflection of his presidency.”
CZ’s Lawyer Rejects Corruption Claims
As reported, CZ’s attorney, Teresa Goody Guillén, has pushed back against allegations that the former Binance CEO’s presidential pardon was influenced by improper financial ties, calling recent media reports “false statements” based on fundamental misunderstandings of blockchain technology.
Guillén argued that CZ “never should have been prosecuted,” saying he faced harsher treatment than banking executives who committed similar compliance violations.
She emphasized that the case involved no victims or fraud and attributed the prosecution to the previous administration’s broader “war on crypto” following the fallout from FTX.
Addressing claims of corruption, Guillén dismissed connections between Binance and Trump-backed World Liberty Financial as misinterpretations of normal blockchain activity.
Critics had cited USD1, a stablecoin operating on Binance Smart Chain, and a $2 billion investment settlement involving the token as evidence of quid pro quo.
She countered that USD1 runs across multiple chains and is not exclusive to Binance, comparing the assumption of a special relationship to claiming someone has ties to Craigslist simply for posting an item on the platform.
Source: https://cryptonews.com/news/cz-vows-to-reinvest-any-future-refund-of-4-3b-doj-fine-into-us/
Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.
Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.
An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.