CZ Floats Binance.US Revival to Restore Global Crypto Liquidity for Americans

Key facts

• Changpeng "CZ" Zhao spoke at Consensus Miami 2026 on May 7.
• Zhao resigned as Binance CEO in November 2023 and pleaded guilty to U.S. charges.
• He was sentenced to four months in prison, released in 2024, and pardoned by President Trump last year.
• Binance.US CEO Stephen Gregory is reportedly planning expansion into derivatives and prediction markets.
• Zhao suggested BNB Chain could serve as the payment infrastructure for AI agents.
• YZi Labs, formerly Binance Labs, introduced a $1 billion fund for BNB Chain projects.
• Zhao believes U.S. crypto policy has improved significantly in the last 18 months.

A Return to American Shores?

Binance founder Changpeng "CZ" Zhao has signaled a potential shift in his engagement with the United States, suggesting a revival of Binance.US as a means to grant American users access to superior global cryptocurrency liquidity. Speaking at the Consensus Miami 2026 conference on May 7, Zhao articulated a vision where U.S. traders could once again tap into the deepest pools of digital asset trading, a stark contrast to years of limited engagement. Zhao's remarks come at a pivotal moment, following his resignation as Binance CEO in November 2023 and subsequent guilty plea to U.S. charges. After serving a four-month prison sentence, from which he was released in 2024, and receiving a pardon from President Donald Trump last year, Zhao appears to be re-evaluating his relationship with the American market. "The best liquidity in crypto is outside of the U.S.," Zhao stated during the Miami event. "Crypto is one of the very few markets that U.S. don’t have access to the best prices." This sentiment underscores a core argument for his proposed strategy: that Binance, with its substantial market presence, could bridge this gap.

Shifting Regulatory Landscape

Zhao's renewed interest in the U.S. market is directly linked to what he perceives as a significant improvement in the nation's approach to cryptocurrency regulation. He noted that the U.S. has transitioned from a jurisdiction he sought to avoid to one now leading global policy in the digital asset space. "The U.S. policy towards crypto changed in the last year and a half or so," Zhao explained, suggesting that this evolution has necessitated his increased attention to U.S. builders, regulators, and policymakers. He specifically cited market structure legislation, including the CLARITY Act and the GENIUS Act, as evidence of the U.S. "leading in the world in terms of crypto policies," despite acknowledging that "some minor issues" remain. This perceived shift has reportedly encouraged developers and crypto firms who had previously relocated to hubs like Abu Dhabi, Hong Kong, and Singapore due to earlier regulatory pressures to consider returning to the United States. Zhao's comments suggest a belief that the U.S. Constitution's capacity for self-correction allows for rapid policy adjustments when necessary.

The Case for Binance.US

A revived Binance.US platform is presented by Zhao as one potential avenue to re-establish U.S. users' connection to global crypto liquidity. He emphasized that Binance possesses significant liquidity within the industry and expressed a desire to make this accessible to American consumers, either through a revitalized Binance.US or an alternative offering. This potential comeback is occurring while Binance.US, under the leadership of CEO Stephen Gregory, is reportedly exploring avenues for growth. Plans are said to be in motion to expand beyond its current spot crypto trading offerings into more complex financial instruments such as derivatives and prediction markets. Zhao also highlighted that the BNB Chain, the blockchain network associated with Binance, has historically been underexposed in the U.S. market. With a builder house now established in New York and a presence in San Francisco, alongside increased U.S. investment activity through YZi Labs, there is an effort to bolster its domestic standing.

BNB Chain and the Future of AI Transactions

Beyond the immediate concerns of market access and liquidity, Zhao also articulated a forward-looking vision for the BNB Chain, positioning it as a foundational payment infrastructure for the burgeoning field of artificial intelligence. He suggested that BNB Chain is the optimal rail for automated transactions between AI agents, proposing that the network's native token, $BNB, should serve as the "agents' currency." This concept aligns with a broader trend of exploring how blockchain technology can facilitate seamless, automated economic interactions in an increasingly AI-driven world. This strategic focus on BNB Chain development is further supported by significant investment. YZi Labs, formerly known as Binance Labs, rebranded last year with Zhao taking a more active role and subsequently introduced a $1 billion fund dedicated to supporting projects on the BNB Chain. This initiative aims to foster innovation and accelerate the adoption of the network for future applications, including those involving AI.

Lingering Questions and Institutional Interest

Despite Zhao's optimistic outlook and proposals, he did not announce a formal relaunch of Binance in the U.S. or any specific regulatory applications. The path forward for a potential Binance.US revival or broader Binance re-entry remains subject to regulatory approval and strategic execution. Zhao also pointed to an opportunity within the $BNB token itself, noting that institutional investors have historically faced challenges in accessing it. He suggested that a future influx of institutional capital could act as a positive catalyst for the token, indicating a potential area for growth and increased adoption. While developers and capital are reportedly returning to the U.S., the extent of this repatriation and its long-term impact on the crypto ecosystem remain to be seen. The U.S. market still grapples with what Zhao described as "minor issues" in its policy debates, suggesting that the regulatory landscape, while improving, continues to evolve.

The bottom line

• Former Binance CEO Changpeng "CZ" Zhao is exploring options to bring global crypto liquidity back to U.S. users, potentially through a revived Binance.US.
• Zhao cites a significant improvement in U.S. crypto policy over the past 18 months as a catalyst for this renewed engagement.
• He believes the U.S. currently lacks access to the best global crypto liquidity and prices, a gap Binance could fill.
• Binance.US, under new leadership, is reportedly planning to expand into derivatives and prediction markets.
• Zhao envisions BNB Chain as a critical payment infrastructure for AI agents, with $BNB as the proposed currency.
• Significant investment is being channeled into BNB Chain projects through YZi Labs' $1 billion fund.