Giant golden CZ statue erected in Washington days after Trump pardon sparks controversy

A 14-foot golden statue of Binance founder Changpeng Zhao has been unveiled in Washington, D.C., just days after President Donald Trump pardoned the former crypto executive who pleaded guilty to money laundering violations in 2024.

The $50,000 monument, funded by anonymous crypto donors, has ignited fresh debate over the intersection of cryptocurrency influence and political power in the nation’s capital.

The statue portrays CZ flashing four fingers, a gesture tied to his 2023 aim of pushing through fear, uncertainty, and doubt. Organizers emphasized the symbolic nature of the piece in a climate where public attention to crypto leadership remains high.

Crypto community erects CZ statue in U.S. capital

Anonymous crypto donors have funded the 14-foot-tall gold-painted CZ statue in Washington, D.C., to honor Binance founder Changpeng Zhao.

This initiative comes shortly after U.S. President Donald Trump pardoned Zhao, marking a significant moment for the crypto leader. The statue depicts CZ flashing four fingers, representing his 2023 mission to overcome fear, uncertainty, and doubt amid intense regulatory scrutiny.

$50,000 raised anonymously to fund the CZ statue

Four anonymous crypto enthusiasts contributed roughly $50,000 to bring the CZ statue to life, revealed organizer Nick Zee.

The statue was meticulously crafted over four weeks using advanced CNC milling technology on dense foam blocks, then coated in gold paint. It will be publicly displayed for a few hours before being gifted or auctioned to benefit CZ’s nonprofit, Giggle Academy.

Symbolism and community support behind the CZ statue

Zee explained that the CZ statue symbolizes resilience in the face of criticism and regulatory pressure.

“The gesture four fingers raised embodies CZ’s goal to push past fear, uncertainty, and doubt,” he said. The statue’s creation also followed a surge in Binance Coin (BNB) price and ongoing community backing, reinforcing Zhao’s influence in the crypto world.

Presidential pardon reignites attention on CZ statue

In 2024, Zhao was indicted and served time in a California minimum-security prison after pleading guilty to anti-money laundering violations, stepping down as Binance CEO.

Last week, President Trump’s pardon sparked widespread debate. White House Press Secretary Karolike Levitt stated, “The pardon reflects constitutional authority exercised amid political targeting by the previous administration.”

Mixed reactions to CZ’s pardon and statue unveiling

Senator Elizabeth Warren sharply criticized the pardon, stating, “Changpeng Zhao pleaded guilty to criminal money laundering charges and later sought political favors.

This pardon exemplifies corruption.” In contrast, supporters highlight the CZ statue as a symbol of resilience for the crypto community amid heavy regulatory hurdles.

CZ statue joins a growing trend of crypto monuments in D.C.

This CZ statue follows recent efforts to honor prominent crypto figures with public monuments in Washington, D.C. Another gold statue featuring former President Trump clutching a Bitcoin was erected nearby last month, signaling increasing cultural recognition of crypto’s impact.

Crypto projects tie-in and market impact linked to CZ statue

The Binance-linked BNB Chain issued a memecoin called CZSTATUE associated with the statue project, currently valued at approximately $577,000. The statue unveiling coincides with notable gains in BNB’s price, which recently hit record highs despite recent minor corrections.