Changpeng Zhao Updates X Profile To @Binance, Sparks Comeback Speculation After DOJ Deal Report
Changpeng Zhao (CZ) has updated his X profile from “ex-@binance” to “@binance,” fueling speculation that he may reclaim the helm at the exchange after stepping down as CEO nearly two years ago.
That’s as a report by Bloomberg said that Binance and the US Department of Justice (DOJ) are in discussions to potentially end the exchange’s three-year compliance oversight.
CZ Could Be Returning To Binance
CZ updated his profile in the last 24 hours, and Crypto Twitter members believe the change is no coincidence.
Many are speculating that he is returning to the leading crypto exchange platform that he played an instrumental role in building from the ground up.
CZ X profile (Source: X)
He stepped down from the exchange after the DOJ accused Binance of purposefully not complying with strict anti-money laundering (AML) and anti-terrorism policies.
US prosecutors also argued that the exchange processed transactions performed by criminals, sanctions evaders, and terrorist groups.
As part of a $4.3 billion plea deal, CZ agreed to leave Binance. He also served a four-month prison sentence. Richard Teng then stepped in as the crypto exchange’s new CEO
Rumors Circle Over CZ Return
This is the first time rumors have started circulating that CZ may be returning to Binance and there has been no official confirmation from CZ or Binance.
Binance is, however, not ranked as the top project on CZ’s profile. At number one is BNB Chain, which is the exchange’s native blockchain network.
Second is the venture capital firm YZi Labs, while education platform Giggle Academy is ranked at number three. Below that is Binance.
Binance In Talks With DOJ To Terminate Compliance Oversight
CZ’s X profile change happened after a Bloomberg report said Binance is in talks with the DOJ to end an outside compliance monitor that was activated as part of the plea deal.
Monitors are commonly used by US law enforcement in plea deals. Their purpose is to ensure that wrongdoings are not repeated after the plea deal is finalized. Usually, this compliance oversight lasts for three years after the plea deal, which would be around November 2026 in Binance’s case.
If Binance’s oversight is indeed terminated, it will mark the latest move in a softer approach to independent oversight that has seen the DOJ end multiple monitors that were issued during the Biden Administration.
In addition to the potential oversight termination, CZ also said in a podcast appearance in May that he is seeking a pardon from pro-crypto US President Donald Trump, who pardoned Silk Road creator Ross Ulbricht at the start of the year.
Following the Bloomberg report, Binace’s native utility token BNB soared to a new all-time high (ATH). In the last 24 hours, the token soared to a record peak of $962.29, according to CoinMarketCap data. It has since pulled back slightly, but leads the top ten list in terms of 24-hour gains with its over 2% rise.
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