Donald Trump has granted a full presidential pardon to Changpeng Zhao (widely known in the crypto world as “CZ”), the founder of Binance. The announcement came on Thursday via the White House, which framed the decision as a move against the so-called “war on cryptocurrency” under the previous administration. Reuters+2Politico+2
Zhao had pleaded guilty in November 2023 to violating anti‐money laundering laws by failing to implement an effective compliance programme at Binance. The Economic Times+2India Today+2 The company agreed to settle with the U.S. government for approximately $4.3 billion, while Zhao personally paid fines and served four months in prison. The Washington Post+1
In a statement on social media platform X, Zhao said he was “deeply grateful” for the pardon and pledged to help make the U.S. “the Capital of Crypto”. AP News+1
Why This Matters
The pardon is significant in several ways:
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It signals a dramatic shift in tone from the U.S. government toward the cryptocurrency industry. The White House cited the pardon as a corrective to what it called the “war on crypto” under the previous administration. Politico+1
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For Zhao and Binance, the pardon potentially erases the criminal record and may open doors for future business activities in the U.S., although the full legal and regulatory implications are still unclear. The Economic Times+1
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Politically, the move has drawn sharp criticism from figures such as Elizabeth Warren, who denounced the decision as “corruption” and as privileging a political ally of the president. The Guardian+1
This pardon follows a pattern of clemency by the Trump administration toward executives in the crypto sector and other high‐profile cases, suggesting pro-crypto policy leanings as a strategic priority. Politico
