TLDR
- Changpeng Zhao, founder of Binance, will have a 14-foot statue unveiled in Washington D.C.
- The statue is painted gold and features Zhao’s iconic four-finger gesture symbolizing resilience.
- The statue will be displayed outside the U.S. Capitol before being offered to Zhao or auctioned.
- Zhao received a pardon from U.S. President Donald Trump after pleading guilty to anti-money laundering violations.
- The statue initiative was funded by an anonymous group of four individuals contributing $50,000.
- Binance Coin (BNB) has experienced significant price growth, with an 18% increase over the past month.
Changpeng Zhao, the founder of Binance, will soon be honored with a 14-foot-tall statue in Washington D.C. The statue will be displayed outside the U.S. Capitol for a brief period before being offered to Zhao as a gift or auctioned. The tribute follows a recent pardon from U.S. President Donald Trump. Crypto fans have rallied to fund the statue, highlighting Zhao’s impact on the cryptocurrency world.
The Statue’s Design and Creation
The 14-foot-tall statue features Changpeng Zhao’s iconic gesture, with him flashing four fingers. This gesture refers to his 2023 goal of ignoring fear, uncertainty, and doubt (FUD) amid increased regulatory scrutiny. The statue will be painted gold to emphasize Zhao’s status as a leading figure in the crypto space. The organizers, including Nick Zee, shared that the creation process took around four weeks using a CNC printing machine. This technology allowed the team to mill the statue from dense foam blocks.
An anonymous group of four people funded the initiative, contributing around $50,000. Zee expressed that Zhao’s gesture symbolizes resilience and strength in the crypto market. The statue’s unveiling will coincide with a period of heightened interest in cryptocurrency, especially in light of recent events surrounding Zhao and Binance.
Changpeng Zhao’s Legal Controversies and Trump’s Pardon
Changpeng Zhao’s statue debut is linked to a broader story of legal challenges and a presidential pardon. Last week, Zhao received a pardon from U.S. President Donald Trump, following a guilty plea to anti-money laundering violations. Zhao’s legal troubles were part of a broader settlement involving Binance, the exchange he founded, and U.S. law enforcement. In total, the settlement reached $4.3 billion, marking a significant moment in the crypto industry’s relationship with regulators.
Senator Elizabeth Warren (D-MA) criticized the pardon, calling it a sign of corruption. She said,
“First, Changpeng Zhao pleaded guilty to a criminal money laundering charge. Then he boosted one of Donald Trump’s crypto ventures and lobbied for a pardon.”
Despite this criticism, Zhao’s supporters view the pardon as a key moment in his career. The statue and the pardon reflect his resilience in navigating the complex world of crypto regulation.
BNB Coin and Other Recent Developments
The announcement of the statue comes as Changpeng Zhao’s Binance Coin (BNB) experiences significant growth. As of Monday, BNB was trading around $1,137, showing a stable price over the previous day. The coin has gained 18% in value over the past month, with recent record highs. This price surge has caught the attention of both supporters and competitors in the cryptocurrency market.
The statue initiative is also tied to a meme coin launched under the ticker CZSTATUE on BNB Chain. The meme coin, with a market cap of $577,000, is designed further to celebrate Zhao’s influence in the crypto world. The rise of BNB, along with the statue and the pardon, showcases Zhao’s continued dominance and relevance in the digital finance industry.
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