Trump Pardons Binance Founder Changpeng Zhao in High-Profile Move
GeokHub
Contributing Writer
In a striking brazen display of executive power, President Donald Trump has issued a full pardon to Changpeng Zhao, founder of crypto giant Binance, overturning a prior U.S. conviction that saw him serve prison time.
The White House framed the decision as an act of clemency correcting what Trump’s team called an overzealous prosecution under the prior administration.
Zhao, often known by his initials “CZ,” pleaded guilty in 2023 to a charge related to failing to maintain an effective anti-money laundering program as required by U.S. law. His plea bargain also included a $50 million personal fine, and Binance itself agreed to settle with authorities for about $4.3 billion over related regulatory violations. He spent roughly four months in prison before being released.
The case exposed regulatory tensions between U.S. authorities and cryptocurrency platforms—particularly in how strict compliance obligations should be enforced on digital asset firms.
White House Press Secretary Karoline Leavitt said Trump “exercised his constitutional authority” by granting the pardon. She characterized Zhao’s prosecution as part of what she called a “war on cryptocurrency” initiated under the Biden administration.
In response, Zhao expressed deep gratitude via social media, pledging to use his influence to foster innovation in America’s crypto sector and to support the goal of making the U.S. a “capital of crypto.”
Observers view this pardon as consistent with Trump’s broader clemency track record in his current term, where he has shown particular favor toward figures in tech and financial sectors.
By wiping out Zhao’s federal conviction, the pardon removes major legal constraints on his involvement in the industry. It may open doors for him to re-engage more robustly with Binance or other ventures—though regulatory oversight and public scrutiny are likely to follow.
For the crypto community, the pardon signals a friendlier U.S. regulatory climate under Trump’s leadership. Many in the space had viewed Zhao’s conviction as a warning shot against exchanges operating in or near U.S. jurisdiction.
The decision has drawn fire from critics who say it blends political power with financial interests. Questions are already being raised about Trump’s broader crypto business endeavors and whether those relationships influenced the pardon.
