$4.3B in fines, four months served, a Trump pardon, and now CZ drops receipts of sushi dinners with Gensler at the Okura in Tokyo — all before Gensler went full enforcement mode. Binance's lawyers flagged this exact conflict in June 2023 and asked for recusal; SEC never responded. Publishing post-pardon with a friendly administration in office is strategic sequencing — nobody currently in power has any incentive to challenge the narrative.

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