Changpeng Zhao (CZ), a co-founder of Binance and former CEO of the world’s largest cryptocurrency exchange, is reportedly in line with President Donald Trump’s policy initiative following his recent release from a four-month prison term.
The change includes a formal application for a presidential pardon after Zhao served time for violations related to the Anti-Money Laundering Act (AML) as he seeks to navigate the complexities of the situation in the US in light of his legal agenda.
Does CZ’s strategy result?
As reported by American Crypto, Zhao’s Foundation, Giggle Academy, partnered with American Legion Charities to donate $2 million to create a permanent scholarship for Fallen’s Children of Disabled Us service members.
The initiative is particularly timely, consistent with Trump’s new focus on artificial intelligence (AI) and blockchain technology, according to the report.
Zhaos’ scholarship program aims to empower students by providing grants of up to $20,000 and features an annual competition that encourages participants to address pressing social issues with innovative solutions.
This coincides with the broader objectives of the Trump administration, including strengthening America’s position as a global leader in technology and cryptocurrency, while supporting veterans and their families.
Recently, the presidential administration has further highlighted this commitment by approving a $83.2 billion defense funding bill that includes pay increases and strengthening benefits for service members.
Former Binance CEO’s permit application gains traction
Industry insiders consider Zhao’s “charitable initiative” potentially strategic, suggesting it could be an attempt to gain favor with the president. “CZ knows what he’s doing,” said a civic executive who is well-versed in the landscape. An executive who chose to remain anonymous when dealing with cryptography in US inquiries further said:
The US needs strong leadership from its top interactions and entrepreneurs to maintain its global crypto capital status. Additionally, a skilled workforce is required to drive the economy of the future.
In addition to the complex situation of former CEOs of Binance in the country, recent speculations have emerged about the possibility of receiving a recent presidential pardon.
CZ tops the leaderboard of crypto betting platform Polymarket as the individual most likely to permeate President Donald Trump in 2025, according to a recent poll.
The story gained momentum after Zhao confirmed on his podcast that he officially applied for pardon. This came after a turbulent year in which he faced important legal hurdles.
During the writing, Exchange’s Native Token Binance Coin (BNB) traded for $782, reaching a gap of over 3% from its current record high two days ago.
CNBC featured images, charts on tradingView.com
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