Crypto industry executives are buzzing with the possibility of Binance, the premier crypto exchange by trading volume, making a comeback in the US after Changpeng “CZ” Zhao received a pardon from President Donald Trump last Thursday.

“We will do everything we can to help make America the capital of crypto and advance Web3 worldwide,” CZ stated in a post on X following his pardon from Trump.

He has also modified his X profile from saying “ex-Binance” to simply “Binance,” further fueling speculation around his possible return to Binance and the exchange’s re-entry into the US market, as indicated by Bloomberg.

CZ Source: CZ

“CZ’s pardon might not just mark a turning point, but also benefit BNB, potentially increasing access to the US market,” wrote David Namdar, CEO of BNB Network Company, on X. Namdar elaborated that BNB has mostly remained under the radar of Western investors despite showing price resilience in various market conditions.

David Namdar Source: David Namdar

The potential resurgence of Binance could allow US retail traders to access the largest centralized crypto exchange, likely increasing trading volume and boosting asset prices.

In 2019, Binance established a separate entity named Binance.US to cater to US residents while adhering to local regulations. However, this branch operates without the global exchange’s liquidity or derivative products, managed by BAM Trading Services.

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US lawmakers remain divided on CZ’s pardon

During a media briefing on Thursday, Trump noted that many in the crypto sector advocated for CZ’s pardon, asserting he has been “persecuted” by the Biden administration.

“Many individuals believe he wasn’t guilty of any wrongdoing. He spent four months in prison, and they assert he was innocent,” Trump said.

Donald Trump US President Donald Trump responds to reporters about various subjects, including CZ, during a press conference. Source: The White House

On the other hand, several US lawmakers, including key Democrats like California’s Representative Maxine Waters and Massachusetts Senator Elizabeth Warren, voiced their criticism of the pardon. Waters described it as signaling “pay-to-play” tendencies and suggested the crypto sector’s influence over Trump.

Additionally, CZ vocally criticized Warren on social media, asserting she inaccurately claimed he admitted guilt in money laundering cases. In fact, Zhao pled guilty to one felony charge for not maintaining an effective Anti-Money Laundering (AML) framework at Binance, resulting in a four-month incarceration in April 2024.