The founder of the Binance cryptocurrency exchange, Changpeng Zhao, said the company would be ready to invest in the United States if it receives a refund of the $4.3 billion it paid as part of its 2023 settlement.
Zhao described the issue of the possible refund as “delicate,” adding that he already feels grateful for the leniency shown in the case. He emphasized the importance of balancing ambition, justice, and appreciation for what one already has.
CZ Hasn’t Requested a Refund Yet
Zhao clarified that he has not submitted a formal request to U.S. authorities but does not rule out the possibility.
In November 2023, Binance admitted to violating anti-money-laundering laws. As part of the settlement, Zhao stepped down as CEO, and the company accepted a $4.3 billion penalty.
A U.S. court approved the deal in February 2024. Prosecutors said Binance’s actions were intentional and posed risks to the financial system. Under the agreement, an independent law firm will monitor the exchange’s compliance for the next five years.
Before the Settlement: How Binance Rose to Global Dominance
Before the legal troubles emerged, Binance grew into the world’s largest cryptocurrency exchange in just a few years. Founded in 2017 by Changpeng Zhao, the platform became known for low fees, vast token listings, and rapid feature expansion. This explosive growth brought global attention — and eventually, increased regulatory scrutiny.
By 2021, U.S. authorities began examining Binance’s compliance practices, AML controls, and customer monitoring systems. These investigations would later form the foundation of the record-setting settlement that changed both the company’s direction and CZ’s public role.
