Binance founder Changpeng Zhao, whom most people know as CZ, is making the rounds . He sat down with CoinDesk for a pair of interviews earlier this month, sharing his views on the crypto exchange he founded, crypto's trajectory in the U.S. and his post-prison activities.

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CZ speaks

The narrative

Changpeng "CZ" Zhao is an unmistakable figure in crypto circles. Though he's kept a relatively low profile — at least in the U.S. — since serving four months in prison on Bank Secrecy Act violations in 2024, he's recently made his reentry to the U.S.

Why it matters

While CZ may no longer helm the world's largest crypto exchange, he remains an influential figure in the industry. He is still the majority shareholder in both Binance and Binance.US, invests in a number of other companies and receives standing ovations when he appears at events.

Breaking it down

CZ told CoinDesk over the course of two interviews that he saw multiple causes for crypto's 2026 bear market including investors moving funds to AI, geopolitical events and the usual four-year crypto market cycle.

He laid out his goals for Binance.US — the U.S. crypto exchange he majority owns but does not run on a daily basis — saying he wanted to see the platform tap Binance Global — the global crypto exchange he majority owns but does not run — for its liquidity, as part of a broader push to make the U.S. market stronger.

And while he said his goal in Washington, D.C. was to clear up any "misunderstandings" about himself and Binance, he said that his pleading guilty to Bank Secrecy Act violations did not hurt his reputation.

Still, CZ told CoinDesk he does not want to run a crypto exchange again, saying he preferred to operate more as an informal adviser to the various companies he's invested in.

Read more in CoinDesk.

Clarity watch

There's still no real word on where this bill is. As a reminder, the ethics provision remains the biggest hurdle to an agreement. Politico profiled White House crypto liaison Patrick Witt, confirming that any deal he helps broker will need presidential sign-off.