President Donald Trump pardons Binance Founder Changpeng “CZ” Zhaolike before Reported by CNBC,
Zhao previously pleaded guilty to enabling money laundering while running a cryptocurrency exchange, and served four months in prison last year.
“President Trump exercised his constitutional authority by issuing a pardon for Mr. Zhao, who was prosecuted by the Biden administration in the war on cryptocurrency,” White House press secretary Carolyn Leavitt said in a statement.
Trump’s apology came after two months wall street journal The Trump family’s own crypto venture benefited from a partnership with the under-the-radar trading platform operated by Binance, the report said. Crypto ventures have generated approximately $4.5 billion since the 2024 election.
After pleading guilty to DOJ charges in 2023, Zhao agreed to step down as Binance CEO, pay a $50 million fine, and agree never to work as a Binance executive again. Following the allegations, Binance was forced to pay $4.3 billion to the US government, one of the largest corporate fines in US history.
