Is prison like the movies? The pardoned billionaire founder of Binance thinks so.
Changpeng “CZ” Zhao pleaded guilty to violating anti-money laundering rules in 2023. He served four months in prison in 2024 and was pardoned by President Donald Trump in October 2025.
Since then, Zhao has been “pretty busy,” he said in an interview with CNBC’s Andrew Ross Sorkin. He’s working on a free education platform, an investment platform, and advises a dozen governments on crypto regulation, he said.
Everyone wants to talk to Zhao about his prison experience, though, unless they’re too afraid to ask. “It’s definitely a conversation starter,” he said.
“My first roommate is a double murderer,” Zhao said. “He’s been there for like twelve years, he still has 18 years to go, and then he got moved to a low-security prison.”
He was a “nice guy,” Zhao added.
Zhao was surprised by his prison sentence, he said. He expected to be given home confinement.
The first day was “pretty brutal,” Zhao said. He described his strip search in detail, including prison staff searching his mouth and tongue as well as his genitalia.
Zhao’s pardon has drawn scrutiny, with some onlookers questioning Trump’s motives. Binance has promoted USD1, the stablecoin issued by World Liberty Financial, a crypto asset manager backed by the Trump family.
“The American people deserve transparency regarding whether the pardon power was exercised impartially or influenced by personal financial interests,” Rep. Robert Garcia wrote in a November letter.
Trump also denied knowing who Zhao is in a “60 Minutes” interview following the pardon.
In his CNBC interview, Zhao also appeared to position himself as removed from the process. Of the pardon procedure, he said, “I still don’t know what the process is.”
Zhao said his motivation for applying for a pardon came from media coverage speculating that he could receive one. After he applied, the administration was a “black box.”
“What people suggested the most is: get in front of Trump yourself,” Zhao said. “But I never got in front of Trump. I just waited and waited and waited, and suddenly it happened.”
Has he spoken to Trump? “No, not yet,” Zhao said.
The closest he’s gotten, he said, was Trump’s “Board of Peace” signing in Davos. Zhao was in the audience, some 30 to 40 feet away from the president who pardoned him.
“Never talked to him,” he said. “Never shook hands.”
