Trump's pardon sparks controversy! CZ promises to invest $4.3 billion refund in the U.S. and faces heavy criticism.

The former richest Chinese man CZ responded for the first time to sensitive topics after receiving a pardon from Trump, stating that if Binance could recover the $4.3 billion fine paid in 2023 as part of a settlement with the federal government, “we would invest this money in the United States, regardless of the circumstances, to express our gratitude.” Trump's pardon of CZ has sparked fierce criticism from Democratic congressmen, who claim it “legalizes the cryptocurrency crimes CZ was convicted of.”

CZ's First Public $4.3 Billion Refund Plan

On Monday, a user X posted a question about how the settlement funds would be handled if refunded, and CZ responded by saying that this is a “tricky issue.” “I am already grateful for this Trump pardon,” said the recently pardoned Crypto Assets founder. “A balance needs to be found between asking for more, pursuing 'fairness,' and cherishing what has already been obtained.”

CZ stated that if Binance can recover the 4.3 billion dollars, this Crypto Assets company “will invest this money in the United States no matter what, to express our gratitude.” “I think I haven't asked yet,” he added. This response shows CZ's cautiously grateful attitude towards Trump's pardon, while also hinting at an interest in the possibility of a refund.

This statement has sparked widespread discussion in the crypto assets community. Supporters believe that CZ's commitment demonstrates confidence in the U.S. encryption industry, and the $4.3 billion investment will significantly advance the goal of making the U.S. the “crypto assets capital.” Critics question whether someone who has been convicted of anti-money laundering violations should receive such generous treatment, not to mention the possibility of returning a hefty fine.

CZ's cautious wording “I think I haven't asked yet” suggests that he may not have formally requested a refund from the Trump administration, but this public response undoubtedly leaves room for future possibilities. For someone who has just received a presidential pardon, immediately demanding the return of billions in fines is clearly a “sensitive issue” that requires extremely careful handling.

Trump's pardon of CZ's milestone case

CZ's intention was revealed nearly a month after he was pardoned by Trump for failing to maintain Binance's anti-money laundering safeguards in 2023. Binance Holdings Limited admitted to violating the Bank Secrecy Act, failing to register as a money services business, and the International Emergency Economic Powers Act (IEEPA). This is one of the largest enforcement actions against crypto assets exchanges in U.S. history.

To resolve this landmark Crypto Assets case, Binance agreed to pay over $4 billion in fines, while CZ was ordered to pay $50 million in fines. These violations included the failure to implement effective Anti-Money Laundering (AML) and Know Your Customer (KYC) procedures, leading to the Binance platform being used for illegal transactions. Investigations showed that Binance allowed users from sanctioned countries to trade and failed to report suspicious activities.

CZ wrote in a post on the X platform on October 23: “I sincerely thank today’s Trump pardon, and I appreciate President Trump for upholding America’s commitment to fairness, innovation, and justice. We will do our utmost to help America become the Crypto Assets capital and promote the development of Web3 technology globally.”

CZ's Main Convictions

Violation of the Bank Secrecy Act: Failure to establish and maintain an effective anti-money laundering program

Not registered as a remittance business: Operating in the United States but not registered with the Financial Crimes Enforcement Network (FinCEN)

Violation of IEEPA: Allowing users from countries sanctioned by the United States to trade

Money Laundering Assistance: The platform is used to handle transactions related to illegal activities.

Trump's decision to pardon CZ is consistent with the crypto assets-friendly policies promoted by his administration. Trump promised during his campaign to make the United States the “crypto assets capital,” and quickly took action after taking office, including firing SEC Chairman Gary Gensler, who was skeptical of crypto assets, and promoting a legislative framework favorable to the crypto industry. CZ's pardon is seen as an important component of this policy direction.

Maxine Waters' fierce criticism

However, not everyone is satisfied with CZ's Trump pardon. California Democratic Congresswoman Maxine Waters fiercely criticized the decision, calling it a way to “effectively legalize the cryptocurrency crimes that CZ was convicted of.”

“Trump pardons Binance founder CZ—who admitted to facilitating money laundering and aiding suspicious transactions with child abusers, drug traffickers, and terrorists—is shocking but not surprising, reflecting his presidency: a term characterized by corruption, self-interest, and loyalty to criminals rather than loyalty to American working-class families,” she said in a statement in October 2025.

Waters' criticism directly points to the severity of CZ's crimes. Investigations show that some transactions processed on the Binance platform involve child sexual abuse materials, drug trafficking, and terrorism financing. While there is no evidence that CZ directly participated in these criminal activities, his failure to establish effective safeguards to prevent such transactions is the core reason for his conviction.

Waters, as a senior member of the House Financial Services Committee, has long been calling for stricter regulation of the Crypto Assets industry. She believes that Trump's pardon of CZ sent the wrong signal to the entire industry, suggesting that even severe violations of anti-money laundering regulations could escape serious consequences as long as a good relationship is maintained with the government.

This criticism reflects the deep divisions within American politics regarding the regulation of crypto assets. The Republican Party tends to adopt a more lenient approach to promote innovation, while the Democratic Party focuses more on consumer protection and preventing illegal activities. The case of CZ has become the focal point of this debate.

Legal Feasibility Analysis of 4.3 Billion Dollar Refund

It is currently unclear whether Binance can recover the 4.3 billion USD. From a legal perspective, presidential pardons typically only cover criminal liability and do not include the return of civil fines or settlements. Although CZ received a pardon from Trump, this primarily affects his criminal record and potential future criminal prosecution, and does not automatically mean that Binance can reclaim the fines that have already been paid.

However, the Trump administration's friendly stance towards Crypto Assets may create room for some form of negotiation. If Binance can prove that it has implemented comprehensive compliance reforms and committed to making significant investments in the U.S. crypto industry in the future, the government could theoretically consider some form of conciliatory adjustment or tax credit. However, this would require complex legal procedures and approvals from multiple government departments.

CZ's commitment that “no matter what, this money will be invested in the United States” may be a strategic statement paving the way for future negotiations. This public commitment demonstrates goodwill and frames the refund issue as an investment opportunity beneficial to the U.S. economy, rather than merely a withdrawal of fines.

Key Factors for Refund Possibility

Legal Precedent: There are very few cases in history where large corporate fines have been refunded after a settlement.

Political Will: The Trump administration's crypto-friendly policies may provide political support, but face strong opposition from the Democratic Party.

Compliance Reform: Binance needs to prove that it has thoroughly reformed its anti-money laundering system and complies with all regulatory requirements.

Investment Commitment: A $4.3 billion investment in the United States could become a bargaining chip in negotiations.

Regardless of the final outcome, CZ's public response to this “sensitive issue” has successfully shifted the topic from past crimes to future contributions. This narrative shift is quite effective on a public relations level, but whether it can translate into actual legal and financial results remains to be seen.