Nikolas Sargeant
Binance co-founder Changpeng Zhao has definitively ruled out returning to the cryptocurrency exchange despite a pardon from US President Donald Trump lifting previous restrictions, stating the company doesn't require a "backseat driver" while predicting Bitcoin could experience a supercycle over the next 12 months.
Zhao told CNBC's Squawk Box on Sunday that his understanding of the pardon means former restrictions "are completely lifted," but rejected any suggestions of resuming an operational role at Binance. "I haven't really needed to go back. I didn't really want to. I thought it was a pretty good way for me to step down, away from Binance after seven years," he stated.
"At the time, it was very painful. I didn't like it. But after, you get used to it. I don't think it's good for me to go back. I think we should leave room for other strong leaders to grow," Zhao added, emphasizing his satisfaction with stepping away from day-to-day management.
Zhao pleaded guilty in November 2023 to failing to maintain an effective anti-money laundering program at Binance and was later sentenced to four months in prison along with being prohibited from working at the exchange. Trump pardoned Zhao in October, drawing scrutiny from some US lawmakers over Binance's ties to Trump-linked cryptocurrency ventures, though Trump denied knowing Zhao's identity.
Zhao stated Binance hasn't missed a beat since his departure, with "two capable CEOs" at the helm and improvements across several growth metrics including users and market share. In a December open letter, the exchange's leadership—Richard Teng and Zhao's long-term partner Yi He—announced the Binance user base had climbed above 300 million, with total product trading volume for the year reaching $34 trillion.
"I just thought, look; they don't need a backseat driver today. I'm still a shareholder," Zhao said, adding he remains "just a pretty passive shareholder, and today when I want to give them advice, I just write it on Twitter."
Looking ahead to 2026, Zhao predicted Bitcoin could experience a supercycle over the next 12 months, echoing speculation from others in the cryptocurrency sector that Bitcoin's traditional four-year cycle might be broken. In economics, a supercycle represents an extended period of outsized growth indicating a major shift underpinned by strong fundamentals over many years.
"Normally, Bitcoin follows four-year cycles, if you look at historic data every four years there's an all-time high, and then there's a drop," Zhao explained. "But I think this year, given the US being so pro crypto and every other country is kind of following, I do think we will see this; we will probably break the four-year cycle."
The prediction comes as cryptocurrency prices and market sentiment have declined entering the new year. However, Zhao's optimism centers on the Trump administration's supportive stance toward digital assets and the potential for global regulatory momentum following the US lead, creating conditions he believes could support sustained price appreciation beyond historical patterns.
