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Founder and former CEO of Binance Changpeng “CZ” Zhao said Tuesday that the Biden administration personally targeted him to set an “example” in cryptocurrency enforcement.

CZ pleaded guilty to violating the Bank Secrecy Act, a law that requires financial institutions to help government agencies detect and prevent money laundering, in 2023. As part of the settlement,  he paid a $50 million fine, stepped down as the company’s CEO and subsequently served four months in prison.

During an interview with Fox Business, CZ was asked whether the previous administration had targeted him to set an example. He replied,…