Changpeng Zhao applies for presidential pardon after legal settlement
Despite applying for a pardon, Zhao has no plans to return to Binance’s CEO position.
Changpeng Zhao, founder and former CEO of Binance, has confirmed he formally applied for a presidential pardon after previously denying media reports about it.
In an interview on Farokh Radio on 6 May, Zhao revealed his legal team filed the request following intense media speculation. He mentioned that after reports from Bloomberg and The Wall Street Journal linked him to a pardon, he decided to officially apply.
Zhao cited US President Donald Trump’s pardons of three BitMEX executives as a key motivator behind his decision. In November 2023, Zhao pleaded guilty to violating the Bank Secrecy Act.
It resulted in Binance paying a $4.3 billion fine, with Zhao personally contributing $50 million. He was sentenced to four months in prison and barred from holding a management position at Binance.
Though a pardon would not erase his conviction, it could potentially clear the way for Zhao to return to leadership at Binance.US. However, Zhao, who stepped down as CEO and served his sentence, has said he has no intention of returning to the company’s helm.
He now focuses on advisory roles, helping countries like Pakistan and Kyrgyzstan with crypto regulation.
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