Industry observers suggest that this major development for CZ and Binance as a whole could pave the way for Zhao to resume leadership roles and consolidate Binance’s US operations.
“This cycle is largely being driven by U.S. institutional investors and investment products, and that’s precisely where Binance can now shift its focus,” stated Markus Thielen, CEO of 10x Research.
He added that the US affiliate will likely be reintegrated into Binance’s global ecosystem, providing US investors with direct access to the platform’s “deep liquidity and comprehensive derivatives offerings.”
However, not everyone believes Zhao is eager to return as CEO. David Namdar, who manages a BNB treasury company backed by Zhao’s family office, commented, “I think he is operating with more of a weight off his shoulders not running the exchange. I’d be surprised if he stepped back into that role.”
However, Bloomberg highlights that the pardon may not only enhance Zhao’s personal prospects but also unlock new opportunities for Binance’s global expansion.
“A criminal conviction can pose a barrier for any individual seeking a beneficial ownership stake in a regulated or listed company,” explained Chris Holland, a partner at HM, a consulting firm based in Singapore.
Cosmo Jiang, general partner at Pantera, anticipates that Zhao will become “more involved with Binance’s operations” now that he has received a pardon. “Whenever a founder returns to a company, it’s always an invigorating moment; you typically see more growth and better execution,” he noted.
Featured image from DALL-E, chart from TradingView.com
