Changpeng Zhao has ruled out returning as Binance’s chief executive, even as President Donald Trump’s pardon lifts prior restrictions on his activities. He says the clemency does not alter his view that his time leading Binance is over, and that a return to day-to-day management is neither necessary nor desired.
The former CEO acknowledged that stepping away was painful at first, but he has grown comfortable with a more hands-off role and argues that leadership succession is healthy for a company of Binance’s size. He notes that when he wants to offer guidance, he shares his views on X rather than taking a formal executive role.
Binance has reiterated its scale in a December open letter by CEO Richard Teng and Yi He, noting more than 300 million users worldwide and approximately $34 trillion in annual trading volume across all products. Zhao says the company does not currently need an outside adviser and remains a passive shareholder who shares his views on X when he wants to offer input. In his telling, the exchange has moved beyond founder-centric governance.
Despite the recent price pullback and a softer mood among traders, Zhao believes Bitcoin could enter a new bull phase within the next year, potentially making 2026 a standout year. He argues that the traditional four-year cycle may not hold this time, attributing it to policy shifts, broader participation, and rising regional adoption that could sustain demand and fuel a possible supercycle.
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