CZ wants to make the U.S. the 'capital of crypto': State of Crypto

Binance founder Changpeng Zhao, whom most people know as CZ, is making the rounds . He sat down with CoinDesk for a pair of interviews earlier this month, sharing his views on the crypto exchange he founded, crypto's trajectory in the U.S. and his post-prison activities.

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Changpeng "CZ" Zhao is an unmistakable figure in crypto circles. Though he's kept a relatively low profile — at least in the U.S. — since serving four months in prison on Bank Secrecy Act violations in 2024, he's recently made his reentry to the U.S.

While CZ may no longer helm the world's largest crypto exchange, he remains an influential figure in the industry. He is still the majority shareholder in both Binance and Binance.US , invests in a number of other companies and receives standing ovations when he appears at events.

CZ told CoinDesk over the course of two interviews that he saw multiple causes for crypto's 2026 bear market including investors moving funds to AI, geopolitical events and the usual four-year crypto market cycle.

He laid out his goals for Binance.US — the U.S. crypto exchange he majority owns but does not run on a daily basis — saying he wanted to see the platform tap Binance Global — the global crypto exchange he majority owns but does not run — for its liquidity, as part of a broader push to make the U.S. market stronger.

And while he said his goal in Washington, D.C. was to clear up any "misunderstandings" about himself and Binance, he said that his pleading guilty to Bank Secrecy Act violations did not hurt his reputation .

Still, CZ told CoinDesk he does not want to run a crypto exchange again, saying he preferred to operate more as an informal adviser to the various companies he's invested in.

Read more in CoinDesk .

There's still no real word on where this bill is. As a reminder, the ethics provision remains the biggest hurdle to an agreement. Politico profiled White House crypto liaison Patrick Witt, confirming that any deal he helps broker will need presidential sign-off.

Negotiations are ongoing, CoinDesk's Jesse Hamilton reported last week , but there are as of yet no details about what any deal might look like. There are 20 working days left between now and September 1 on the Senate calendar , meaning there is decreasing floor time left for the Senate to debate and vote on the bill.

Some of the other priorities the Senate had have been resolved. Lawmakers passed a housing bill (which included a temporary ban on the U.S. Federal Reserve issuing a central bank digital currency) last week, and a reconciliation funding bill went through Congress earlier this month .

That still leaves the Foreign Intelligence Surveillance Act reauthorization, even as Congress gears up to start working on the annual farm bill and National Defense Authorization Act.

If you’ve got thoughts or questions on what I should discuss next week or any other feedback you’d like to share, feel free to email me at nik@coindesk.com or find me on Bluesky @nikhileshde.bsky.social .

You can also join the group conversation on Telegram .

See ya’ll next week!

US equities on crypto rails: access is easy, on-chain composability is the real test. Only Binance and Backpack deliver both - and only Binance at scale.

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