Washington, USA – US President Donald Trump issued a full presidential pardon for Changpeng Zhao,
the founder of the giant cryptocurrency exchange Binance.
Who had previously been convicted in financial cases related to violations of anti-money laundering laws.
Trump signed the pardon on Wednesday, after months of intense lobbying by Zhao and his allies behind the scenes.
This coincides with the Trump family’s growing influence in the digital assets sector.
“Political Persecution” and Ending the War
White House spokeswoman Caroline Leavitt said in an official statement that
the president “exercised his constitutional authority to grant pardon to Mr. Zhao,
“Which was prosecuted as part of the Biden administration’s crackdown on cryptocurrencies,”
she added, “that war is officially over.”
Informed sources said that Trump recently expressed sympathy with the allegations that Zhao
Other cryptocurrency sector officials were subjected to what was described
as “political persecution” during the previous administration.
This decision is a major victory for Zhao, known as “CZ”,
Who had served a 4-month prison sentence before being released in September 2024.
Amnesty’s Implications for the Cryptocurrency Market
A presidential pardon could open the door for Binance,
the world’s largest cryptocurrency exchange, to resume operations in the United States.
In 2023, the company admitted to violating anti-money laundering laws.
This resulted in it being banned from operating in the country
and a record $4.3 billion fine from the Department of Justice.
Although the pardon may contribute to reducing the three-year supervision period imposed by the Ministry of Justice,
It is unlikely that he will end the separate oversight issued
by the Treasury Department without additional approval from Trump or the Treasury Secretary.
Zhao’s legal woes coincided with growing business ties between Binance and Trump’s digital empire.
The platform has become one of the most prominent supporters of the President’s World Liberty Financial project,
Which links political decision-making to the intertwined commercial interests in the crypto-asset sector.
Binance has not yet commented on the decision.
