Changpeng Zhao (also known as “CZ”), the former CEO of Binance, has denied that he struck any pardon-related deal with the Trump family’s crypto venture despite acknowledging a one-time meeting with Eric Trump. In an interview with Fox News, CZ said the claims of negotiations are “completely wrong. There was no deal and no discussion. There were never any negotiations. I have no business relationship with WLFI.”
What CZ said
In the interview, CZ confirmed that he met Eric Trump once at a crypto conference in Abu Dhabi (the Bitcoin MENA conference) but clarified that the encounter was brief and social. “We have never met, we have never talked,” CZ told Fox News anchor Bret Baier.
He categorically rejected reports that his pardon, granted by Donald Trump in October 2025, was tied to any business relationship or negotiation with the Trump-linked firm World Liberty Financial, Inc. (WLFI). “That is completely wrong. There was no deal, no discussion,” he said.
Background and why it matters
- CZ pleaded guilty in 2023 to one count of violating the U.S. Bank Secrecy Act and served about four months in prison.
- In October 2025, President Trump issued a pardon for CZ, sparking scrutiny and questions about potential ties or influence between Binance, the Trump family’s crypto ventures and the pardon process.
- Reports by outlets such as The Wall Street Journal and Bloomberg alleged that Binance or CZ may have been involved in talks to assist WLFI and the Trump family’s stable-coin project in exchange for favorable regulatory or clemency outcomes.
Response and implications
CZ’s denial comes amidst mounting regulatory and congressional interest in crypto industry governance, the role of stable-coin issuers, and potential conflicts of interest in high-profile pardons. Analysts say that even without a confirmed deal, the optics of a meeting at a crypto conference and subsequent pardon raise ethical questions for regulators and lawmakers.
For the crypto industry, the episode may underscore the importance of transparency and the need for clear regulatory frameworks—so that executive-level relationships and high-stakes outcomes are subject to scrutiny. In the words of a Fox Business commentary: “There are no receipts because there’s no deal to show.”
Bottom line
While CZ admits to having met Eric Trump once at a Dubai-based crypto conference, he firmly rejects that any business negotiation, pardon deal or formal relationship with WLFI ever took place. Whether regulators, lawmakers or industry watchers will accept that assertion remains to be seen—but the episode has already intensified focus on how crypto, politics and governance intersect in the U.S.
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