TLDR
- Changpeng Zhao, founder of Binance, will have a 14-foot statue unveiled in Washington DC
- The statue is painted in gold and features Zhao’s iconic four-finger gesture symbolizing resilience.
- The statue will be displayed outside the US Capitol before being offered to Zhao or auctioned off.
- Zhao was pardoned by US President Donald Trump after pleading guilty to money laundering offences.
- The statue initiative was funded by an anonymous group of four individuals who contributed $50,000.
- Binance Coin (BNB) has experienced significant price growth, rising 18% in the past month.
Changpeng Zhao, the founder of Binancewill soon be honored with a 14 foot tall statue in Washington DC. The statue will be displayed outside the US Capitol for a short period before being offered to Zhao as a gift or auctioned off. The tribute follows a recent pardon by US President Donald Trump. Crypto fans have rallied to fund the statue, highlighting Zhao’s impact on the cryptocurrency world.
The design and creation of the statue
The 14-foot tall statue has Changpeng Zhao’s iconic gesture, with him flashing four fingers. This gesture refers to his 2023 goal to ignore 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. Organizers, including Nick Zee, said the creation process took about four weeks using a CNC printer. This technique allowed the team to mill the statue from dense blocks of foam.
An anonymous group of four people funded the initiative, contributing about $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 increased interest in cryptocurrency, especially in light of the recent events surrounding Zhao and Binance.
Changpeng Zhao’s legal controversies and Trump’s pardon
Changpeng Zhao’s statue debut is linked to a wider story of legal challenges and a presidential pardon. Last week, Zhao was pardoned by US President Donald Trump, after pleading guilty to money laundering offences. Zhao’s legal troubles were part of a broader settlement involving Binance, the exchange he founded, and US law enforcement. In total, the settlement reached $4.3 billion, marking an important 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 charge of money laundering. Then he fueled one of Donald Trump’s crypto ventures and lobbied for a pardon.”
Despite this criticism, Zhao’s supporters see the pardon as a key moment in his career. The statue and 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) is experiencing significant growth. As of Monday, BNB was trading around $1,137, showing a stable price compared to the previous day. The coin has gained 18% in value over the past month, hitting recent record highs. This price rise 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 the BNB Chain. The meme coin, with a market capitalization of $577,000, is designed to further celebrate Zhao’s influence in the crypto world. The rise of BNB, along with the statue and pardon, showcase Zhao’s continued dominance and relevance in the digital financial industry.
