President Donald Trump on Thursday pardoned Changpeng “CZ” Zhao, the convicted founder of Binance, the world’s largest crypto exchange. The move comes after months of overlap between Zhao’s interests and the Trump family’s burgeoning crypto venture, World Liberty Financial, which has helped drive a massive jump in the president’s personal fortune, according to The Wall Street Journal.
White House press secretary Karoline Leavitt defended the pardon, stating, “The Biden Administration’s war on crypto is over.” Zhao had pleaded guilty in 2023 to failing to maintain an effective anti-money-laundering program and served nearly four months in prison. Binance also paid a record $4.3 billion fine and accepted multi-year federal monitorship, as reported by the Justice Department and Treasury.
This pardon could clear Zhao’s path to reengage more openly in U.S. markets and may affect Justice Department oversight. However, the Treasury’s separate monitorship would require additional action to be lifted.
Since Trump’s election, Binance has emerged as a key supporter of the Trump family’s World Liberty Financial operation and its dollar-pegged token, USD1, according to The Wall Street Journal’s reporting on the family’s crypto windfall.
Following the pardon, Zhao thanked Trump and pledged to support U.S. crypto leadership in a statement posted publicly, the Journal reported.
[RELATED: Hawley Breaks With GOP As Senate Backs Bailout For Crypto Investors]
[RELATED: Cyber Criminals Steal Millions After Hacking Popular Crypto Exchange]
https://dailycaller.com/2025/10/23/donald-trump-pardon-cz-zhao-binance-founder/
Be First to Comment