Changpeng Zhao, affectionately known as CZ within the cryptocurrency community, has recently given his reaction to the news that the creator of Silk Road, Ross Ulbricht, has received a “full and unconditional pardon” from the US president. The news has been well-received by the crypto community, with many high-profile individuals expressing their relief and joy. However, for CZ, the news has also been a stark reminder of his own situation.
In a tweet from the @Free_Ross X account, the announcement of Ulbright’s pardon was made public to a wave of support and celebration. The tweet referred to the president as a “man of his word”, expressing deep gratitude for the life-changing decision. CZ retweeted the post, adding a “clapping hands” emoji as a sign of his joy.
In response to this, a fellow Twitter user expressed their hope that the president would also grant a pardon to CZ. The Binance co-founder responded with a “folded hands” emoji, a humble gesture reflecting his gratitude and hope.
Back in November 2023, CZ was forced to step down from his position as CEO of Binance following accusations from the US Department of Justice that Binance had violated US security law, anti-money laundering rules, and allowed non-US citizens to trade. The accusations led to a multi-billion-dollar fine for Binance and a lifetime ban for CZ from running the company. He served a short prison term between May and October 2024, and the threat of another prison term still looms.
The pardon for Ross Ulbricht, however, has given a new sense of hope to the crypto community. Ulbricht was sentenced to two lifetime prison terms in 2013 after being arrested for founding and running the Silk Road darknet marketplace. The site, which facilitated the sale of illegal drugs using Bitcoin as the currency, was the first significant platform to integrate Bitcoin as a means of payment. This made Ulbricht a pioneer of Bitcoin adoption.
The pardon of Ulbricht was a key election promise from the president and its delivery has brought a wave of celebration within the crypto community. High-profile figures such as Erik Voorhees, founder of ShapeShift, Gabor Gurbacs, a Tether advisor, and Samson Mow, the boss of JAN3, have all publicly expressed their joy and relief at the news.
It remains to be seen whether CZ will receive the same pardon, but in the meantime, the crypto community continues to celebrate this significant victory for one of its pioneers.