Binance founder Zhao pardoned by Trump in latest crypto clemency

Binance co-founder Zhao Changpeng has received a pardon from US President Donald Trump after he went to prison for failing to safeguard the world’s largest crypto exchange against money laundering.

“President Trump exercised his constitutional authority by issuing a pardon for Mr Zhao, who was prosecuted by the Biden administration in their war on cryptocurrency,” said White House spokeswoman Karoline Leavitt.

Zhao wrote in a social media post that he was “deeply grateful for today’s pardon and to President Trump for upholding America’s commitment to fairness, innovation, and justice”.

“Will do everything we can to help make America the Capital of Crypto,” Zhao added.

Trump’s move marks the latest act of clemency the White House has granted to a cryptocurrency entrepreneur, underscoring how the Trump administration has positioned itself as a friend of the industry.

Chinese-born Canadian Zhao, widely known as CZ, served a four-month sentence in 2024 after pleading guilty to failing to implement adequate anti-money-laundering measures at Binance.

The guilty plea was part of a broader deal struck with the US government, which included a US$4.3 billion settlement with Binance.

Source link

Leave a Reply Cancel Reply