Trump pardons Binance founder Changpeng Zhao

President Donald Trump pardoned Binance Founder Changpeng “CZ” Zhaoas the first Reported by CNBC.

Zhao previously pleaded guilty to enabling money laundering while running a cryptocurrency exchange, and spent four months in prison last year.

“President Trump exercised his constitutional authority by pardoning Mr. Chao, who was prosecuted by the Biden administration in its war on cryptocurrencies,” White House press secretary Carolyn Leavitt said in a statement.

Trump’s pardon comes two months later The Wall Street Journal It was reported that the Trump family’s cryptocurrency project benefited from a partnership with a secret trading platform run by Binance. The cryptocurrency project has generated about $4.5 billion since the 2024 election.

After pleading guilty to DOJ charges in 2023, Zhao agreed to step down from his position as CEO of Binance, pay a $50 million fine, and agreed to never serve as CEO of Binance again. After these accusations, Binance was forced to pay a $4.3 billion settlement to the US government, one of the largest corporate fines in US history.