In a recent discussion on Anthony Pompliano’s podcast, Teresa Goody Guillén, the lawyer for Changpeng Zhao (CZ), addressed his recent presidential pardon. The conversation centered on the reasons behind the pardon, the process, and the swirling rumors.

Guillén Addresses Public Controversy

The attorney clarified that CZ faced accusations for failing to maintain proper anti-money laundering protocols at Binance. However, she emphasized that this was a regulatory concern rather than a criminal act, asserting, “He was pardoned because he should not have been prosecuted in the first place,” and that the pardon from President Trump validated that no crime occurred.

Guillén noted that CZ was the only person ever prosecuted for such regulatory breaches, pointing out that this disparate treatment starkly contrasts with how executives at major financial institutions are generally treated. She argued that CZ became a target as part of what she termed a regulatory “war on crypto,” especially following the fallout from the FTX collapse.

The attorney detailed the pardon process, explaining that applications are typically scrutinized by various offices, including the Department of Justice and the White House Counsel, before reaching the president, who makes the final decision. She dismissed any suggestions of a “quid pro quo” as misinterpretations.

Additionally, Guillén addressed misconceptions regarding CZ’s business connections, particularly with World Liberty Financial, stating these links had been largely misinterpreted. She mentioned that political remarks from individuals like Senator Elizabeth Warren had further skewed public perception.

Zhao’s Return to Binance

Guillén also confirmed that CZ will not be returning to Binance currently, as the company continues to face restrictions from various U.S. regulatory bodies, despite no evidence of fraud or a criminal history that would warrant such limitations. These constraints hinder Binance’s U.S. operations.

In conclusion, while the pardon provided clarity regarding the accusations against CZ, the wider ramifications continue to impact both him and the exchange, resulting in a missed opportunity for the U.S. to tap into the liquidity and prospects presented by one of the largest crypto platforms globally. Guillén praised Zhao for maintaining composure through the public scrutiny and media pressure.