"I was a model for investigation"...Changpeng Zhao openly criticizes U.S. government's pressure on virtual assets

▲ Donald Trump, Changpeng Zhao/ChatGPT generated image

Changpeng Zhao (CZ), founder of Binance, the world's largest virtual asset exchange, claimed that the U.S. government's investigation into him was a 'showcase' or 'exemplary' case.

According to the cryptocurrency specialized media Bitcoinist, Changpeng Zhao stated in a recent interview that the Joe Biden administration adopted a hostile stance towards the virtual asset industry as a whole, and in the process, used him as a symbolic example. He answered "I think so" to the question, revealing his perception that the government targeted him to send a strong message to the industry.

Changpeng Zhao described the policy environment at the time as a "war on virtual assets," explaining that the entire industry was forced to operate in a very hostile environment.

In 2023, he pleaded guilty to violating the U.S. Bank Secrecy Act (BSA), paid a $50 million fine, and stepped down as Binance CEO. He subsequently completed about four months of imprisonment.

In this regard, Changpeng Zhao interpreted his punishment as a measure that went beyond simple law enforcement, symbolically demonstrating the regulatory will towards the virtual asset industry. In particular, he emphasized that the regulatory authorities' approach at the time was aimed at putting pressure on the entire industry.

Meanwhile, former President Donald Trump later pardoned Changpeng Zhao, and this decision also led to political debate surrounding virtual asset policy.

The market views this statement as an opportunity to once again highlight the relationship between the direction of U.S. virtual asset regulation and political influence.

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