CZ responds to Warren’s false fraud claims, denies money laundering charges, and sees BNB surge after Trump grants him a full pardon.
Changpeng Zhao, founder of Binance, recently responded to allegations made by Senator Elizabeth Warren regarding fraud and money laundering.
Zhao’s remarks followed Warren’s criticism after former U.S. President Donald Trump issued a pardon for Zhao. The senator had previously accused Zhao of criminal activity and linked his pardon to “corruption.”
Zhao has denied the accusations, stating that there were no money laundering charges against him and urging Warren to check her facts.
Warren’s Allegations Against CZ
Senator Elizabeth Warren took to social media, claiming that Changpeng Zhao had pleaded guilty to money laundering charges and was sentenced to prison. She accused Zhao of using his financial ties to Trump to secure a pardon.
In her post, Warren suggested that the pardon was an example of corruption and urged Congress to intervene. She emphasized that CZ’s actions threatened the integrity of the system.
CZ pleaded guilty to a criminal money laundering charge and was sentenced to prison.
But then he financed President Trump’s stablecoin and lobbied for a pardon.
Today, he got it.
If Congress does not stop this kind of corruption, it owns it. pic.twitter.com/NsWeaJcVeK
— Elizabeth Warren (@SenWarren) October 23, 2025
Warren’s comments came in the wake of Trump’s decision to grant CZ a full pardon. The Binance founder had been facing legal issues related to alleged banking violations, but Zhao had never been charged with money laundering.
Warren’s comments, which included false details about Zhao’s legal case, were met with immediate backlash from Zhao and his supporters.
Zhao’s Response and Clarification
In response, Zhao took to social media to clarify the facts surrounding his case. He emphasized that he had never been charged with money laundering, rejecting Warren’s claims.
Zhao pointed out that the allegations were not only inaccurate but also damaging to the crypto industry. He also noted that Warren had publicly declared a “war on crypto” just days before his sentencing, accusing her of targeting the industry unfairly.
A US Senator can't get her facts right, in a public post about a person's charge. There were NO money laundering changes.
The same Senator declared "war on crypto", on public TV, 5 days before my sentencing, during the Biden Admin.
Need a better example of weaponization of… https://t.co/87gTMP6mcn pic.twitter.com/4j1Us48Nop
— CZ 🔶 BNB (@cz_binance) October 24, 2025
Zhao suggested that Warren’s remarks were part of a broader political agenda to use the U.S. Department of Justice (DOJ) against the crypto sector. He argued that the senator’s actions reflected the weaponization of government institutions to control the rapidly growing digital asset market.
Binance Coin Gains Amid Controversy
Following the news of Zhao’s pardon, Binance Coin (BNB) saw a notable rise in value. As of the latest reports, BNB had increased by 5%, reaching over $1,130.
Moreover, the surge in price is being attributed to growing optimism among traders and investors in the wake of Zhao’s legal victory. BNB has experienced strong performance throughout 2025, up over 100% from earlier lows.
The increased trading volume for BNB has further fueled this bullish sentiment. The latest spike in value follows a 61% increase in the token’s trading volume, reaching $5.74 billion.
Despite the ongoing legal challenges, Zhao’s influence on the market appears to remain strong, with Binance continuing to play a central role in the global crypto ecosystem.
