Binance founder Zhao Changpeng (CZ) publicly shared his true experience of imprisonment during the World Economic Forum in Davos, Switzerland, and discussed the psychological transformation he experienced after being pardoned by U.S. President Trump, freeing himself from the “felon label” and feeling truly free again.
(Previous context: CZ Zhao Changpeng: Bitcoin may break the four-year cycle, entering a super bull market in 2026)
(Additional background: CZ: AI will make you unemployed, cryptocurrencies will make you no longer need to work)

Table of Contents

• Feeling “true freedom” only after the pardon
• Denies any private or business dealings with the Trump family
• Prison life “almost identical to movies”
• Sentencing outcome was unexpected
• New direction after leaving Binance

During the World Economic Forum in Davos, Binance founder Zhao Changpeng (CZ) was interviewed by CNBC’s “Squawk Box” host Andrew Ross Sorkin. He provided his first comprehensive account of his personal experience of imprisonment and the significant psychological and life changes after being pardoned by President Trump.

Feeling “true freedom” only after the pardon

Zhao Changpeng revealed that he received a pardon from President Trump about three months ago (around October 2025), but it was only after the pardon officially took effect that he felt “completely free” for the first time. He stated that although he was no longer physically restricted after release, the label of “felon” had long imposed a heavy psychological burden, as if carrying an invisible weight all along.

“Now that this burden is finally lifted, I am a truly free person,” Zhao said. This change was more psychological, making him feel lighter and more at ease than ever before. He also expressed “deep gratitude” for Trump’s pardon but admitted that the entire pardon process was like a “black box” to him, handled entirely by his lawyers, and he is still unclear about the actual decision-making process and the final decision-maker.

Denies any private or business dealings with the Trump family

Addressing speculation about his relationship with Trump or the Trump family, Zhao repeatedly clarified in the interview that he has never met or spoken privately with Trump. He said the closest he came was seeing Trump speak at the “Board of Peace” event in Davos.

He also explicitly denied any commercial dealings with the Trump family, emphasizing, “I have no business relationship whatsoever with the Trump family.”

Prison life “almost identical to movies”

Regarding his actual prison experience, Zhao described that period as “very brutal and terrible,” almost indistinguishable from portrayals in movies. He recalled that on his first day in prison, he had to undergo strict physical examinations, including full-body strip searches, squatting, coughing, and other standard procedures, which made him feel extremely uncomfortable and embarrassed.

His first cellmate was a double-murderer who had served about 12 years and still faced 18 more years of imprisonment. Zhao emphasized that he was placed in a regular cell with no special treatment.

Sentencing outcome was unexpected

Zhao admitted that he never expected to actually serve time in prison, as there had been no cases in U.S. legal history where someone was sentenced solely for violating the Bank Secrecy Act. Similar cases usually resulted in deferred prosecution agreements (DPA) or house arrest.

He initially expected the worst outcome to be 6 to 12 months of house arrest, so being sentenced to 4 months in prison was “very surprising” to him.

New direction after leaving Binance

After leaving Binance, Zhao is now focusing on new roles and projects, including running free educational and investment platforms, and discussing the tokenization of national assets with “about a dozen governments.” He is also optimistic about the crypto market prospects, believing that Bitcoin could enter a so-called “super-cycle” in 2026.