Ted Hisokawa
Oct 24, 2025 11:16
In a surprising move, former President Donald Trump has pardoned Changpeng Zhao, the founder of Binance, after serving a prison sentence for money laundering charges.
In a significant development within the cryptocurrency world, former President Donald Trump has pardoned Changpeng Zhao, the founder of Binance. The pardon, confirmed by a White House official, marks a dramatic turn of events for Zhao, who had previously been convicted on money laundering charges.
Background of the Case
Changpeng Zhao, often referred to as CZ, served as the chief executive officer of Binance, one of the world’s largest cryptocurrency exchanges. In 2024, Zhao was charged with money laundering and subsequently served a four-month prison sentence in the United States. The charges and conviction were part of a broader crackdown by the Biden Administration on financial crimes involving cryptocurrencies.
Presidential Pardon
The pardon issued by Trump has stirred discussions across both political and financial sectors. According to a report by CNBC, the former president exercised his constitutional right to issue the pardon, which has been perceived by some as a critique of the previous administration’s stringent policies against cryptocurrency-related offenses. The White House statement emphasized Trump’s decision as a corrective measure against what he viewed as overreach by his successor’s administration.
Reactions and Implications
Market analysts and legal experts are now evaluating the potential impact of this decision on the cryptocurrency market and its regulatory environment. Zhao’s return to the public eye could signal renewed vigor for Binance, especially as regulatory frameworks around digital currencies continue to evolve globally.
The pardon could also influence ongoing debates about the role of cryptocurrencies in financial systems and the extent of government intervention. As the industry watches closely, Zhao’s next moves will be critical in shaping Binance’s future and its standing in the global market.
For a detailed account of the pardon, visit the original report on CoinMarketCap.
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