Binance co-founder Changpeng Zhao says he has no plans to return to the world’s largest crypto exchange, even after a presidential pardon removed legal barriers that once prevented him from doing so. Instead, Zhao says the next chapter of his career will stay outside day-to-day exchange leadership — and he believes the broader crypto market may be heading toward a major inflection point.
Speaking on CNBC’s Squawk Box on Sunday, Zhao said the pardon granted by Donald Trump means prior restrictions on his involvement are “completely lifted.” Still, he dismissed speculation about a comeback at Binance.
Earlier coverage: Whale deposits surge on Binance, but lack of buyers raises caution flags
“I haven’t really needed to go back. I didn’t really want to,” Zhao said, adding that stepping away after seven years at the helm ultimately felt like the right decision. While difficult at the time, he said the transition created space for new leadership to grow.
Zhao pleaded guilty in November 2023 to failing to maintain an effective anti–money laundering program at Binance. He later served a four-month prison sentence and was barred from working at the exchange. Trump’s pardon in October reopened that possibility, though it also prompted scrutiny from some US lawmakers over Binance’s broader political connections — scrutiny Trump dismissed.
Binance moves on without its founder
Zhao said Binance has continued to expand since his departure, arguing that the exchange does not need him in any operational role. He pointed to what he described as steady gains in users and market share under the leadership of CEO Richard Teng and co-founder Yi He.
In an open letter published last December, Binance said its user base had surpassed 300 million, with total trading volume reaching $34 trillion for the year. Zhao said he remains a shareholder but plays no active role, occasionally sharing views publicly rather than steering decisions internally.
“They don’t need a backseat driver,” he said. “If I want to give advice, I just write it on Twitter.”
Zhao forecasts a Bitcoin supercycle in 2026
While crypto markets have struggled with weaker sentiment entering the new year, Zhao struck an optimistic tone on Bitcoin’s longer-term outlook. He suggested the asset could enter a “supercycle” within the next 12 months, potentially breaking with the familiar four-year halving-driven pattern.
Bitcoin has historically followed a cycle marked by sharp rallies roughly every four years, followed by deep corrections. Zhao said that framework may no longer fully apply as policy, adoption and market structure evolve.
“Normally, Bitcoin follows four-year cycles,” he said. “But this year, with the US being so pro-crypto and other countries following, I think we’ll probably break that pattern.”
In economic terms, a supercycle refers to a prolonged period of outsized growth driven by structural shifts rather than short-term speculation. Zhao suggested that regulatory clarity and institutional acceptance could provide the foundation for such a move in crypto.