Former Binance CEO Changpeng “CZ” Zhao said he would reinvest any potential refund of Binance’s $4.3 billion settlement with the U.S. Department of Justice (DOJ) back into the American economy, but legal specialists emphasize that such a refund is highly improbable.
CZ made the statement on X after receiving a presidential pardon from President Donald Trump in October 2025, writing: “IF we get any refund, we will be investing that in America anyway.”
The remark quickly drew public attention, given the scale of the DOJ settlement and the unprecedented nature of the pardon.
Zhao was originally pardoned for his personal criminal liability stemming from his November 2023 guilty plearelated to Binance’s failure to maintain an effective anti-money-laundering program. However, legal analysts stress that presidential pardons do not reverse or negate corporate financial penalties.
According to multiple legal experts:
- The $4.3B settlement was a corporate agreement, not a personal fine.
- Presidential pardons apply to individuals, not corporations.
- Reversing or refunding such a settlement would require extensive legal action, including challenges to the original consent order.
Even if such a challenge were attempted, it would face significant political resistance, especially given the bipartisan support behind the original enforcement action.
In short, while CZ’s statement signals goodwill toward U.S. markets and potentially Binance’s future U.S. ambitions, the likelihood of any settlement refund remains extremely low under current legal frameworks.
