CZ's Attorney Labels Trump Pardon 'Pay-to-Play' Claims a 'Pile-Up of False Statements'

Teresa Goody Guillén, the attorney for Binance founder Changpeng "CZ" Zhao, has vehemently denied allegations that Zhao's recent pardon by former U.S. President Donald Trump was a "pay-to-play" arrangement. Appearing on the "Pomp Podcast," Guillén described the widespread criticism as "a pile-up of a lot of false statements, misstatements and assumptions," directly refuting claims of financial impropriety. The pardon, granted in October 2025, has ignited significant debate and scrutiny regarding its motivations and the ties between the Trump family and the cryptocurrency industry.

Zhao, widely known as CZ, had previously pleaded guilty in late 2023 to failing to maintain an effective anti-money laundering program at Binance and subsequently served a four-month prison sentence in 2024. As part of his plea deal, he also stepped down as CEO of the world's largest cryptocurrency exchange. President Trump justified the pardon by stating that Zhao was a victim of the Biden administration's "war on cryptocurrency" and that his actions "wasn't a crime," exercising his constitutional authority.

Critics, notably Democratic Senator Elizabeth Warren, have labeled the pardon as "corruption," pointing to alleged financial connections between Binance and Trump family crypto ventures. Reports suggested Binance's involvement with World Liberty Financial, a crypto company partly owned by Trump's sons, including writing code for its USD1 stablecoin and promoting it. An investment of $2 billion by Emirati firm MGX in Binance, reportedly facilitated using USD1, further fueled these "pay-to-play" accusations.

Goody Guillén, however, strongly pushed back against these narratives, asserting that such claims demonstrate a fundamental misunderstanding of how business and blockchain technology operate. She argued that there is no verifiable evidence to support the assertion that World Liberty Financial is "Trump's company" or that any illicit payments were made, noting that blockchain transparency would track such transactions. The attorney maintained that Zhao's prosecution was an unfair "regulatory infraction" and part of a broader "war on crypto" that disproportionately targeted him.

While President Trump himself claimed not to know CZ personally, stating he granted the pardon at the "request of a lot of very good people," the controversy continues to draw attention. The pardon restores Zhao's civil rights and U.S. entry eligibility, though regulatory restrictions prevent him from holding leadership roles at Binance for several years. Goody Guillén confirmed that Zhao would not be returning to run Binance, emphasizing that the pardon was a matter of justice rather than a political favor.