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President Trump Pardons Binance Founder Changpeng Zhao After He Helped Promote WLF

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**President Donald J. Trump Pardons Binance Founder Changpeng “CZ” Zhao Amid Cryptocurrency Scrutiny**

President Donald J. Trump has issued a pardon for Changpeng “CZ” Zhao, the embattled founder of Binance, following intense scrutiny Zhao faced under the Biden administration. This move reflects Trump’s intent to shift the current American government’s stance on cryptocurrency, contrasting with the Biden administration’s previously stringent approach.

According to a statement by White House Press Secretary Karoline Leavitt to the Wall Street Journal, “President Trump exercised his constitutional authority by issuing a pardon for Mr. Zhao, who was prosecuted by the Biden Administration in their war on cryptocurrency.”

### Zhao’s Conviction and Allegations

Zhao was previously convicted for offenses related to facilitating money laundering on the Binance platform. The allegations included enabling multiple transactions totaling up to $900 million between the United States and Iran. These charges form the backbone of the legal actions taken against him during the Biden administration.

### Zhao’s Involvement with the Trump Family’s World Liberty Financial (WLF)

The Wall Street Journal reports that President Trump’s decision to pardon Zhao came after months of Zhao publicly promoting the Trump family’s cryptocurrency venture, World Liberty Financial (WLF). Notably, WLF reportedly benefited from a covert partnership with a trading platform operated by Binance. This platform has generated approximately $4.5 billion since the 2024 U.S. elections.

### Impact of the Pardon on Ongoing Investigations

Following the pardon, The Verge reported that the U.S. Department of Justice’s investigation into Binance has effectively come to an end. This development could potentially clear the path for Zhao and Binance to resume their business operations within the United States.

### Binance and Zhao Under Biden Administration Scrutiny

The Biden administration had been rigorously investigating Binance and Changpeng Zhao, especially in the wake of the landmark prosecution of former FTX CEO Sam Bankman-Fried. In late 2023, after charges were filed against Binance and Zhao, the executive pleaded guilty. Binance then began negotiating a plea deal settlement amounting to $4.3 billion.

The scrutiny centered on allegations from the U.S. Securities and Exchange Commission (SEC) that Binance and Zhao violated multiple federal regulations by failing to secure proper licenses and effectively handling securities related to their operations.

### Sentencing and Plea Deal Details

Despite the seriousness of the charges, Zhao received a relatively lenient sentence of four months in prison, short of the recommended 12 to 18 months. As part of his plea deal, Zhao agreed to pay a $50 million fine to the Justice Department and consented to permanently step down from any executive role at Binance.

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This presidential pardon marks a significant turning point in the relationship between regulatory authorities and the cryptocurrency industry, potentially influencing the future regulatory landscape of digital assets in the United States.
https://www.techtimes.com/articles/312347/20251023/president-trump-pardons-binance-founder-changpeng-zhao-after-he-helped-promote-wlf.htm

business, economy, finance, international, technology

CZ Reveals Real Reason Tokenized Gold Has Not Taken Off

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**Changpeng Zhao (CZ) Responds to Peter Schiff’s Tokenized Gold Plans**

Changpeng Zhao (CZ), founder and former CEO of Binance, has recently commented on Peter Schiff’s announcement regarding a tokenized gold product. Schiff, a well-known gold proponent, is making a notable pivot by embracing blockchain technology to tokenize gold, aiming to make it more accessible and transferable. However, CZ remains skeptical about the idea.

### CZ Critiques the Tokenized Gold Concept

For years, Peter Schiff has dismissed Bitcoin (BTC), even recently forecasting an imminent crash in its price. Now, with his plans to create a tokenized gold product, he appears to be adopting blockchain technology—albeit for gold rather than cryptocurrencies.

CZ’s response, however, was a pointed critique of what he sees as a mismatch between hype and reality. He clarified that his criticism was not aimed at gold itself, but at the tokenization model. According to CZ, tokenized gold often amounts to little more than a digital claim on physical gold held by a central custodian. In other words, individuals do not truly hold gold “on-chain.” Instead, it resembles a bank promise to return deposits.

The risk lies in trusting the issuer: if they go bankrupt, get hacked, or change ownership, the guarantees tied to these tokens could fail. While physical gold endures through time, CZ pointed out, such promises may not. He questioned whether a third party could reliably deliver on their commitments years down the line, especially amid wars and economic disruptions.

Describing the proposed product as a “trust me bro” token, CZ suggested this inherent trust risk explains why no tokenized gold project has truly taken off. This touches on a broader debate about blockchain’s promise. Schiff’s approach offers convenience with a gold twist, but CZ reminds the community that true innovation in blockchain lies in removing the need to outsource trust.

### Peter Schiff Faces Additional Criticism Following Gold’s Price Drop

Meanwhile, Peter Schiff has come under more fire within the cryptocurrency ecosystem after gold prices plunged to record lows on Wednesday, October 22, 2025.

A report by U.Today highlighted commentary from veteran crypto trader Peter Brandt, who took a playful jab at Schiff. Brandt shared a historical chart illustrating that gold investors have endured a difficult journey, often facing deep and long-lasting consolidations over the years. Despite this, gold has averaged a modest annual return of 3.6% over the past 45 years.

Interestingly, Schiff had predicted earlier this month that gold could soar to $6,000 by Christmas, outperforming both Bitcoin and the S&P 500. Contradicting this forecast, gold’s price dipped below $4,100 on Wednesday, fueling recent skepticism and criticism.

On the other hand, Bitcoin continues to experience volatility but is showing signs of recovery. Over the past 24 hours, BTC’s price marginally increased by 1.17%, reaching $109,629.

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As Schiff ventures deeper into blockchain-based gold products, the debate on trust, innovation, and the future of tokenized assets is sure to intensify. Meanwhile, market movements keep testing the forecasts of both gold and cryptocurrencies alike.
https://u.today/cz-reveals-real-reason-tokenized-gold-has-not-taken-off