Changpeng Zhao: Return to the UAE and Impact

Changpeng Zhao has returned to the UAE after his detention in the US, retaining control over Binance. NYT estimates his wealth at $114 billion.

Diplomacy and Investments

Zhao actively advises governments on cryptocurrency issues. He has developed special relations with the authorities of the UAE, where he obtained citizenship.

The Emirati fund MGX invested $2 billion in Binance. The deal was conducted through the USD1 stablecoin, linked to the Trump family.

Critics call this a conflict of interest

Binance transferred $2.1 million to a lobbying firm associated with the Trump administration to mitigate punishment. Later, the president pardoned Zhao.

NYT does not provide direct evidence linking the deal and the pardon. Authorities deny corruption schemes.