Trump grants clemency to Binance founder Changpeng Zhao
United States President Donald Trump has granted an official pardon to Changpeng “CZ” Zhao, the founder of global cryptocurrency exchange Binance.
Zhao had earlier pleaded guilty to charges related to enabling money laundering through Binance, the world’s largest cryptocurrency trading platform. He was prosecuted under the administration of former President Joe Biden, which Trump has repeatedly accused of waging a “war on crypto.”
In a statement on Thursday, the White House confirmed the pardon, noting that President Trump exercised his constitutional authority to absolve Zhao of his conviction.
Zhao’s legal troubles stemmed from a high-profile case in which Binance was accused of failing to maintain adequate anti-money-laundering controls. The company later paid substantial fines as part of a settlement with U.S. authorities.
The pardon effectively clears Zhao’s criminal record and could pave the way for a possible re-entry of Binance into the U.S. market, after its suspension amid regulatory scrutiny.
Observers say Trump’s decision underscores his administration’s more lenient stance toward the cryptocurrency industry, which he describes as central to America’s technological and financial future.
The move also reinforces Trump’s effort to brand himself as a pro-innovation leader, contrasting his policies with what he calls the “anti-business” approach of the Biden administration.
Zhao, in a post on social media following the announcement, expressed deep gratitude to President Trump, saying the decision “upholds fairness, innovation, and justice” in the evolving digital economy.
