Key Takeaways
- Trump Pardons CZ: The U.S. president cleared Changpeng Zhao’s 2023 conviction, restoring the former Binance CEO’s legal standing.
- CZ Slams Schiff’s Gold Token: Zhao mocked Peter Schiff’s tokenized gold plan as a “trust me bro” asset reliant on third-party custody.
- ReachMe Shuts Down: Binance’s BNB Chain messaging app closed after weak user adoption and fairness concerns.
- CZ Still in the spotlight: Even after leaving Binance, Zhao remains a key voice in crypto’s debates on trust and regulation.
Table of Contents
Binance founder and former CEO Changpeng “CZ” Zhao returned to headlines Thursday as three major developments involving the crypto entrepreneur unfolded within hours — a presidential pardon from Donald Trump, a clash over tokenized gold, and the shutdown of a Binance-backed messaging platform.
The Good News: Trump Pardons Binance Founder CZ
U.S. President Donald Trump has granted a pardon to Binance founder Changpeng Zhao, according to The Wall Street Journal, citing people familiar with the decision. The reported pardon, signed on Wednesday, comes months after sustained lobbying efforts by Binance and Zhao’s legal representatives.
While the White House and Federal Register have not issued formal confirmation, the move would effectively wipe Zhao’s record of charges concerning Binance’s Anti-Money Laundering failures.
Zhao was accused by the U.S. Department of Justice and financial regulators of failing to establish adequate Anti-Money Laundering protections at Binance, enabling potential illicit transactions on the platform.
He pleaded guilty in November 2023 to violating the Bank Secrecy Act under a plea agreement with the Justice Department.
As part of the settlement, Zhao agreed to pay a $50 million personal fine, while Binance paid $4.3 billion in penalties to U.S. authorities.
He was sentenced to four months in federal prison in April 2024 and completed his sentence in September.
The Clash: CZ Dismisses Peter Schiff’s “Tokenized Gold”
Hours before the pardon news broke, Zhao reignited debate in the crypto community by criticizing gold advocate Peter Schiff’s latest venture.
Schiff, a longtime critic of Bitcoin, recently announced plans to issue a blockchain-based gold token, allowing users to purchase and store gold in vaults, transfer ownership digitally, or redeem holdings for physical bullion.
The initiative, promoted during an appearance on the ThreadGuy podcast, was described as a modern bridge between traditional assets and blockchain technology.
Zhao, however, dismissed the idea in a post on X, arguing that tokenized gold relies on centralized trust rather than blockchain integrity. He wrote that such tokens depend on third parties who may or may not honor redemption promises.
Describing the asset as a “trust me bro” token, Zhao said this model fails to deliver true on-chain transparency. His remarks quickly gained traction among crypto proponents who view tokenized commodities as a compromise between decentralization and traditional finance.
The Setback: ReachMe Messaging Platform Shuts Down
In a separate development, ReachMe, a blockchain-based paid messaging service built on BNB Chain, confirmed its permanent closure.
The platform, which once allowed users to send messages directly to industry figures such as Zhao, officially announced the end of operations on its website. All data, it said, has been handled securely in line with its privacy policy, and no further messaging or transactions are possible.
Launched as an experiment in monetized communication, ReachMe charged users in BNB tokens to contact high-profile personalities. A message to Zhao initially cost 1 BNB, valued between $400 and $500 at the time, before being reduced to 0.8 BNB following feedback. The goal, according to Zhao, was to encourage more meaningful exchanges by limiting spam and controlling message volume.
Despite early interest, the platform struggled to attract consistent engagement, and concerns over accessibility and fairness ultimately led to its shutdown.
To sum up: CZ is still here
Overall, the three developments, underscore how Changpeng Zhao continues to shape narratives within the digital asset sector. Even after stepping down as Binance’s CEO, CZ remains a central figure in the ongoing dialogue between innovation, regulation, drama, and public trust in the crypto economy.
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