Binance co-founder Changpeng Zhao has ruled out a return to lead the exchange, even as a pardon from the U.S. president opens a window for potential future involvement. In a CNBC Squawk Box appearance this past weekend, Zhao said he understood the pardon effectively lifts prior restrictions, but he does not intend to reclaim a front-facing role at Binance. He described stepping away after seven years as a deliberate choice, noting that the period was painful but that the company has since adapted under new leadership. Zhao stressed that Binance should continue to evolve under capable management while he remains a shareholder, watching from the sidelines and offering input on social media when he chooses to weigh in. In a broader frame, Zhao’s remarks come as Binance has pressed ahead with its growth trajectory. A December open letter from the exchange’s leadership highlighted remarkable momentum, noting a user base surpassing 300 million and a total product trading volume of $34 trilli...