Changpeng Zhao (CZ), the founder of Binance, the world’s largest cryptocurrency exchange, spoke to CNBC in an exclusive interview in Davos, where he was attending the World Economic Forum, about his experiences following his pardon by US President Donald Trump and his future plans.
Zhao, who was convicted and imprisoned in 2023 for violating anti-money laundering laws, was pardoned by President Trump last October. CZ stated that the pardon lifted a huge psychological burden from him, saying, “I was free before, but I was in a convicted state. Now I am truly a free man.”
Sharing details about his time in prison, Zhao said his first cellmate was a convicted murderer who had been incarcerated for 12 years and had 18 years remaining on his sentence. He described procedures like the strip search during entry into the prison as “brutal,” noting that the depictions in films were very realistic.
Zhao, who said the pardon process was like a “black box” and that he still didn’t know exactly how it worked, admitted that he initially didn’t consider applying for a pardon. He stated that he applied through his lawyers in March 2025 following media reports, and maintained that he never met President Trump in person or had any direct contact with him.
Responding to claims of a connection between Binance and the Trump family’s crypto projects, Zhao said, “To my knowledge, there is no connection. It’s just that the Trump administration is taking a crypto-friendly stance, which is positive for the entire industry.”
Zhao stated that he now devotes more of his time to philanthropic and educational projects, and that he is working on a free educational platform he calls “Giggle Academy.”
In the interview, he said, “I don’t trade, I just hold Bitcoin and BNB. I tried trading years ago and lost money. Then I realized I’m a developer, not a trader,” and added:
“It’s impossible to predict Bitcoin’s short-term rise and fall, but it’s easy to predict Bitcoin’s long-term performance. Looking at a one-year timeframe, I’m not sure about 2026, but there’s a strong feeling that Bitcoin will enter a supercycle in 2026.”
Historically, Bitcoin typically follows a four-year cycle. Looking at historical data, a new all-time high is reached approximately every four years, followed by a correction. However, given the strong support for cryptocurrency in the US and the trend followed by other countries, I think this pattern will change this year, and the previous four-year cycle may even be broken.”
*This is not investment advice.