Binance founder CZ granted presidential pardon
The White House defended the pardon, calling Zhao’s prosecution part of a ‘war on cryptocurrency’ led by the previous administration.
Binance founder Changpeng ‘CZ’ Zhao has received a presidential pardon after serving a four-month sentence for violating US money laundering laws. The decision follows Binance’s guilty plea and $4.3 billion fine over allegations of helping users bypass sanctions.
The White House defended the move, describing Zhao’s prosecution under the previous administration as part of a broader ‘war on cryptocurrency’. Press Secretary Karoline Leavitt said the case had been ‘overly prosecuted’ and that the pardon corrected an act of ‘misjustice’.
The decision has reignited debate over potential conflicts of interest, given the Trump family’s investments in the digital asset space.
Zhao expressed gratitude for the pardon, saying it reflected America’s commitment to fairness and innovation. The decision removes restrictions preventing him from leading financial ventures, although his future role with Binance remains uncertain.
The company, registered in the Cayman Islands, called the move ‘incredible news’ but declined to comment on the allegations of political favouritism.
The administration has adopted a friendlier stance toward the crypto industry, easing regulations and promoting the idea of a national cryptocurrency reserve. Critics, including Senator Elizabeth Warren, called the pardon ‘corrupt’, saying it weakens financial accountability.
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