
Binance founder CZ returns to US, pushes Binance.US to tap global exchange liquidity. Senate has 20 working days left on crypto bill.
Changpeng Zhao is back in Washington. The Binance founder, who served four months in prison on Bank Secrecy Act violations in 2024, told CoinDesk his goal is to clear up “misunderstandings” about himself and the exchange. His broader ambition: make the U.S. the “capital of crypto.”
CZ no longer runs Binance day-to-day. He remains the majority shareholder of Binance Global and Binance.US. In two interviews earlier this month, he laid out a specific plan for the U.S. exchange: tap Binance Global’s liquidity pool to strengthen Binance.US as part of a push to grow the American market. He said he does not want to run a crypto exchange again, preferring an informal adviser role for the companies he invests in.
The liquidity plan is the clearest signal yet of how CZ intends to stay involved. Binance.US has operated at a smaller scale than its global parent, constrained by U.S. regulatory oversight. Directing liquidity from the global exchange would let it offer deeper order books and tighter spreads without taking on additional balance-sheet risk, traders familiar with the structure said. CZ did not disclose a timeline or specific amounts.
His Washington visit also served a personal goal. CZ said he wanted to address what he called “misunderstandings” among policymakers about his role and the company’s compliance posture. He acknowledged his guilty plea but told CoinDesk it did not hurt his reputation. He received standing ovations at recent industry events.
The interviews come as Senate negotiators continue talks on a crypto market structure bill. The ethics provision remains the biggest hurdle. CoinDesk’s Jesse Hamilton reported last week that any deal brokered by White House crypto liaison Patrick Witt will require presidential sign-off.
Twenty working days remain on the Senate calendar before September 1. That leaves limited floor time for debate and a vote. Some priorities have cleared. Lawmakers passed a housing bill last week that includes a temporary ban on the U.S. Federal Reserve issuing a central bank digital currency. A reconciliation funding bill went through Congress earlier this month.
Still on the docket: FISA reauthorization, the annual farm bill, and the National Defense Authorization Act.
CZ blamed the 2026 crypto bear market on two factors: investors moving funds to AI and geopolitical events. He also cited the usual four-year cycle. He did not comment on the legislative timeline.
Twenty working days remain on the Senate calendar before September 1.
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