Donald Trump has pardoned Binance founder Changpeng “CZ” Zhao
By ForGeeks
U.S. President Donald Trump has pardoned Changpeng «CZ» Zhao, founder of cryptocurrency exchange Binance, according to CNBC.
Zhao had previously pleaded guilty to facilitating money laundering while running Binance and spent four months in prison last year.
«President Trump used his constitutional authority to issue an executive order pardoning Mr. Zhao, whom the Biden administration prosecuted as part of its war on cryptocurrencies» — White House press secretary Caroline Leavitt said in a statement.
Trump’s pardon comes two months after The Wall Street Journal published a story alleging that the Trump family’s crypto project benefited from a partnership with a little-noticed trading platform affiliated with Binance. According to the publication, the project has made about $4.5 billion since the 2024 election.
After pleading guilty to the Justice Department charges in 2023, Zhao agreed to step down as Binance’s CEO, pay a $50 million fine and never hold a leadership position at the company again. Binance then had to pay the U.S. government $4.3 billion — one of the largest corporate fines in the country’s history.
