CZ Confirms He Will Not Return to Binance After Pardon
Speculation surrounding Changpeng Zhao’s (CZ) return to Binance has officially come to an end. The crypto billionaire has made it clear that he has no plans to resume leadership of the exchange, even after receiving a presidential pardon that removed his legal restrictions.
Speaking on the sidelines of the World Economic Forum in Davos, CZ told CNBC’s Andrew Ross Sorkin that his chapter as Binance’s chief executive is closed, signalling a definitive end to the founder-led era of the world’s largest crypto exchange.
The statement shuts down months of market chatter that expected the pardon to pave the way for a high-profile comeback. Instead, CZ is charting a new path beyond exchange operations.
A New Chapter for Binance Without Its Founder
Binance is now firmly under the leadership of its co-CEOs, Richard Teng and Yi He, who were appointed in late 2025. Under the new structure, the exchange is prioritising regulatory compliance, institutional credibility, and operational discipline.
This represents a major shift from Binance’s earlier growth strategy, which was characterised by rapid expansion and founder-driven decision-making. While the transition reduces regulatory and reputational risk, it raises questions about whether Binance can maintain its distinctive culture without its most recognisable figure.
CZ’s Influence Moves Beyond Exchanges
CZ’s decision not to return does not signal an exit from the crypto ecosystem. Instead, it reflects a repositioning of influence, away from daily operations and toward long-term impact.
One of his most visible initiatives is Giggle Academy, a free online education platform designed for children from primary to secondary school. The platform focuses on literacy, numeracy, storytelling, emotional intelligence, and basic financial awareness, supported by AI-driven personalisation.
By entering education, CZ is deploying technology at scale in a sector largely insulated from the regulatory pressures facing crypto exchanges, while pursuing what he describes as a passion project.
Capital Deployment Through YZi Labs
Capital allocation remains central to CZ’s post-Binance strategy. Through YZi Labs, his family office–turned–investment fund managing more than $10 billion, he is backing projects across crypto infrastructure, developer ecosystems, and adjacent technologies.
CZ has disclosed that 98% of his personal portfolio is held in BNB, with the remainder in Bitcoin. He avoids active trading and focuses on long-term bets. Recent investments include Genius Trading, Vana Network, and a $1 billion commitment to BNB developers.
A smaller $2 million investment in biotech firm Aster triggered a 35% spike in its token, demonstrating that CZ’s market influence remains significant despite stepping away from Binance.
Advising Governments on Asset Tokenisation
Perhaps the most strategic evolution in CZ’s role is his growing involvement in government advisory work, particularly around Real-World Asset (RWA) tokenisation.
CZ has confirmed discussions with multiple governments exploring the tokenisation of assets ranging from infrastructure projects to state-backed securities. According to ARK Invest’s “Big Ideas 2026” report, up to $11 trillion worth of RWAs could be tokenised on-chain by 2030.
Tokenisation has emerged as one of the few crypto use cases that regulators actively engage with, offering efficiency and liquidity without undermining state oversight. CZ argues that blockchain rails could unlock trillions of dollars in illiquid assets globally.
This advisory role allows him to shape national crypto strategies without assuming operational or regulatory risk.
A Deliberate Step Back After Legal Challenges
CZ has acknowledged that his legal challenges reshaped his outlook. He has expressed regret over strategic decisions that exposed Binance to US enforcement and has stated clearly that he has no interest in revisiting that phase of his career.
With Binance moving forward under new leadership, CZ’s influence now flows through education, capital allocation, and policy advisory work, rather than direct exchange management.
Conclusion
Changpeng Zhao’s decision to stay away from Binance marks the end of an era for the crypto exchange he built into a global powerhouse. However, it also signals the beginning of a broader role, one that spans education, long-term investment, and government-level crypto integration. While CZ may no longer run Binance, his impact on the future direction of crypto remains firmly intact.
