Changpeng Zhao moves to restore US influence after pardon, Bloomberg reports

Binance founder Changpeng Zhao has begun a concerted effort to restore his standing in the United States following a pardon from President Trump, Bloomberg reported. The report states that while Zhao has officially stepped back from Binance's management, he is attempting to expand his influence in the U.S., aligning with the Trump administration's pro-cryptocurrency stance. He is reportedly reviewing a capital restructuring of Binance.US and discussing a reduction of his controlling stake, which has been a persistent obstacle. Binance recently reorganized its leadership, appointing co-founder He Yi as co-CEO alongside Richard Teng. He Yi, described as Zhao's common-law spouse, officially announced his retirement at a recent event, but his practical influence is believed to remain. The company is also said to be exploring an expanded partnership with BlackRock and a collaboration with World Liberty Financial (WLFI), a firm founded by the Trump family. Some observers are concerned that Binance may attempt to re-enter the U.S. market using its past aggressive business practices, the report added.