CZ’s lawyer criticizes the media for the ‘Trump Pardon for Crypto Favors’ story

CZ’s lawyer claimed his pardon was due to him being improperly prosecuted, and dismissed media stories about ‘Trump Pardon for Crypto Favors’.

In a recent appearance on Anthony Pompliano’s podcast, Teresa Goody Guillén, attorney for Binance founder Changpeng Zhao, discussed the presidential pardon he recently received.

The conversation focused on why the pardon was granted, how the process worked and the many rumors circulating online.

Guillén discusses public controversy

The lawyer explained that CZ was accused of failing to implement proper anti-money laundering programs and compliance systems at Binance, but emphasized that this was a regulatory matter, not a criminal offense, and that no illegal activities had occurred. “He was pardoned because he should not have been prosecuted in the first place,” she said, adding that President Trump’s pardon proved he had committed no crime.

Guillén described CZ as the only person ever prosecuted for such regulatory violations, noting that this treatment was inconsistent with the way executives at major financial institutions are typically treated. She also believes the Binance founder became a target in what she described as part of regulators’ “war on crypto,” especially in the wake of the FTX collapse.

In explaining the pardon process, the legal professional said applications are usually extensively reviewed by multiple offices, including the Justice Department, the Office of the Pardon Attorney and the White House Counsel, before the president makes the final decision. She rejected claims of a “quid pro quo” or corruption, describing such speculation as based on misinterpretations and unverified sources.

The lawyer also addressed misunderstandings about CZ’s business relationships, including links to companies such as World Liberty Financial, and clarified that these connections have been widely misinterpreted. Guillén added that political statements, such as those made by Senator Elizabeth Warren, were inaccurate and showed how much influence government officials have on perceptions.

Zhao’s return to Binance

Guillén also confirmed that Zhao will not be returning to the company at this time as Binance continues to operate under restrictions from multiple US agencies, including the Department of JUSTICE (DOJ), the Commodity Futures Trading Commission (CFTC), and the Department of Treasury. She explained that these measures remain in place despite the absence of fraud, victims or criminal record, limiting Binance’s activities in the US market.

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The lawyer concluded that while the pardon clarified the allegations against CZ, the broader consequences have affected him and the exchange, while the US has lost access to the liquidity and opportunities that come from hosting one of the world’s largest crypto platforms. Meanwhile, she also praised Zhao for remaining calm and positive throughout the ordeal, saying he handled media scrutiny and public criticism calmly.