Binance founder Changpeng Zhao, widely known as CZ, discussed crypto markets, regulation, and his post-prison outlook in exclusive interviews with CoinDesk earlier this month.
CZ has recently stepped back into the public conversation after keeping a low profile in the U.S. following his four-month prison sentence in 2024 for Bank Secrecy Act violations. In the interviews, he reflected on Binance, the direction of the U.S. crypto market, and broader industry trends.
You’re reading State of Crypto, CoinDesk’s newsletter covering the intersection of digital assets and government policy.
CZ returns to the spotlight
Although no longer running Binance, CZ remains a major figure in the industry. He is still the majority shareholder of Binance and Binance.US, continues to invest across crypto, and remains a prominent presence at industry events.
Why it matters
Even without an operational role, CZ continues to influence market sentiment and industry direction, underscoring his enduring reach in crypto.
Key takeaways
CZ attributed the 2026 crypto downturn to a mix of factors, including capital flowing into artificial intelligence, geopolitical uncertainty, and the traditional four-year market cycle.
He also outlined plans for Binance.US, suggesting the platform could benefit from Binance Global’s liquidity to strengthen the U.S. crypto ecosystem.
On regulation, CZ said his goal in Washington, D.C. is to clear up “misunderstandings” about himself and Binance, adding that his past guilty plea has not impacted his reputation.
He also reiterated that he does not intend to run another crypto exchange, preferring instead to act as an informal advisor and investor.
Policy watch
Uncertainty continues around a key crypto bill, with ethics provisions still holding up progress. According to Politico, White House crypto liaison Patrick Witt said any final deal would require presidential approval.
Negotiations are ongoing, but no concrete framework has been released. With just 20 legislative working days remaining before September 1, time for Senate consideration is narrowing.
Other legislative items have already moved forward, including a housing bill that temporarily blocks the Federal Reserve from issuing a central bank digital currency and a recent reconciliation funding package.
Still pending are the reauthorization of the Foreign Intelligence Surveillance Act and upcoming work on the farm bill and National Defense Authorization Act.
This week
No hearings are currently scheduled.
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