Attorney for CZ Defends Against 'Trump Pardon' Accusations

In a recent episode of Anthony Pompliano’s podcast, Teresa Goody Guillén, legal counsel for Binance founder Changpeng Zhao, addressed the implications of a presidential pardon Zhao received.

The discussion included insights into the reasons behind the pardon, the procedural aspects of how it was granted, and the various speculations circulating on social media.

Guillén Tackles Public Discontent

Guillén clarified that Zhao faced accusations regarding inadequate anti-money laundering practices and compliance protocols at Binance. However, she stressed that these issues pertain to regulatory matters rather than criminal activities, asserting that no illegal actions occurred. “He was pardoned because he never should have been prosecuted in the first place,” she stated, highlighting that the pardon declaration from President Trump indicates that Zhao committed no crime.

She pointed out that Zhao is the only person ever to face prosecution for regulatory infractions of this kind, underscoring a disparity in treatment compared to executives at major financial institutions. Guillén expressed her belief that Zhao became a target in what she described as a “war on crypto” initiated by regulators, especially following the fallout from the FTX collapse.

Delving into the pardon process, Guillén explained that applications are subject to thorough evaluations by several entities, including the Department of Justice, the Office of the Pardon Attorney, and the White House Counsel, before a decision is made by the president. She dismissed allegations of a “quid pro quo” arrangement or any form of corruption, characterizing such claims as based on misinterpretations and unverified information.

Guillén also sought to clarify misconceptions about Zhao’s business affiliations, particularly with companies like World Liberty Financial, stating that these connections have been misconstrued. She remarked that public statements from politicians, such as those from Senator Elizabeth Warren, were misleading and exemplified the significant impact public figures have on societal perceptions.

Current Status of Zhao and Binance

Furthermore, Guillén confirmed that Zhao will not be returning to Binance at this moment, as the company is currently operating under restrictions imposed by various U.S. regulatory bodies, including the Department of Justice (DOJ), the Commodity Futures Trading Commission (CFTC), and the Treasury Department. She noted that these limitations persist despite the absence of fraud, victims, or any criminal history, thereby constraining Binance’s activities within the U.S. market.

In conclusion, the attorney stated that while the pardon has clarified the allegations against Zhao, the broader repercussions have significantly affected both him and the exchange. She highlighted that the U.S. has forfeited access to the liquidity and opportunities associated with hosting one of the world’s leading crypto platforms. Throughout this challenging period, Guillén commended Zhao for maintaining an optimistic and composed demeanor, effectively managing the intense media scrutiny and public backlash.

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