Binance refutes CZ 'quid-pro-quo pardon'…"Unfair politicization"

The world's largest cryptocurrency exchange, Binance, directly refuted allegations of a quid-pro-quo pardon for founder Changpeng Zhao (CZ).

On the 30th (local time), Binance.US said via its official X (X) account, "USD1 and World Liberty Financial (WLFI) are assets that had already been approved through the listing committee's normal business procedures," and, "(the listing) was entirely a decision based on Binance.US's business judgment." Binance.US is Binance's U.S. arm.

Binance.US took this position because allegations were raised concerning a pardon for founder Changpeng Zhao. U.S. Senator Chris Murphy recently claimed that Binance.US listed USD1 in exchange for President Donald Trump's pardon of Changpeng Zhao. USD1 is a stablecoin issued by World Liberty Financial, the Trump family's cryptocurrency project.

Binance.US says the quid-pro-quo pardon allegations have a political motive. Binance.US said, "USD1 is listed on more than 20 major exchanges, including U.S. platforms such as Coinbase and Robinhood," and "Binance.US subjects any asset to thorough due diligence and legal review before listing." It added, "Unfortunately, even these routine business decisions are now being unfairly politicized by elected officials."