Teng Says Bitcoin May Reclaim Its Price, But Can CZ | Crypto Work Pro
As Bitcoin suffers one of its steepest month-to-month pullbacks this 12 months, Binance CEO Richard Teng spent Friday reflecting on the market’s health. But a completely different query dominated the room: what occurs subsequent with Changpeng “CZ” Zhao following his presidential pardon?
Teng attributed Bitcoin’s roughly 21% November decline to “risk-off sentiment” and widespread deleveraging throughout asset courses. He described the correction as “healthy” and famous that Bitcoin nonetheless trades at more than double its 2024 ranges.
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Market Slump Takes Centre Stage, however CZ Still Looms Large
When requested about Zhao’s standing, Teng reiterated that there was no determination relating to his potential return to Binance.
“CZ has always been a controlling shareholder… he has more shareholder rights associated with that,” Teng mentioned on the Sydney media roundtable. “Day to day, I work very closely with our seven-member board, including three independent directors. We continue to chart the future strategy of the company.”
Zhao, who served practically 4 months in jail after pleading guilty to violating U.S. anti-money-laundering legal guidelines, acquired a presidential pardon from Donald Trump on 23 October 2025.
According to legal consultants, the pardon removes the federal felony conviction and associated felony restrictions, permitting Zhao to carry shares and even return to management if the company chooses — and if different jurisdictions don’t impose separate limitations.
Corporate obligations ensuing from Binance’s settlement with U.S. authorities, together with long-term compliance monitoring, stay absolutely in place.
Shortly after receiving the presidential pardon, Zhao printed a assertion on X, writing:
“Deeply grateful for today’s pardon and to President Trump for upholding America’s commitment to fairness, innovation, and justice. Will do everything we can to help make America the Capital of Crypto and advance web3 worldwide.”
Binance declined to touch upon Zhao’s post.
Broader Market Context
The crypto downturn comes amid a world risk-off shift, pushed by issues over valuations in AI-linked equities and the likelihood of a broader correction, regardless of robust earnings from main U.S. firms akin to Nvidia.
Despite current declines, Teng famous that Bitcoin nonetheless trades at more than double its 2024 ranges, supported by institutional inflows earlier within the 12 months.
This article was written by Tanya Chepkova at www.financemagnates.com.
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