U.S. President Donald Trump has granted a full pardon to Changpeng Zhao, the founder of cryptocurrency exchange Binance, the White House announced on Thursday. This move is seen as Trump’s latest effort to bolster the cryptocurrency industry.
Changpeng Zhao, known widely as “CZ,” is one of the most influential figures in the cryptocurrency space. He stepped down as Binance’s CEO in 2023 after the company pleaded guilty to failing to maintain an effective anti-money laundering program and was fined $4.3 billion.
Zhao was prosecuted by the Biden administration “as part of its war on crypto,” White House Press Secretary Karoline Leavitt stated in a release.
In a post on the social media platform X, Zhao expressed his gratitude: “I am profoundly thankful for today’s pardon and to President Trump for upholding America’s commitment to fairness, innovation, and justice. We will do everything possible to help make America the Crypto Capital of the World.”
U.S. authorities stated in 2023 that Binance failed to report suspicious transactions involving entities such as Hamas, al Qaeda, and websites trafficking child sexual abuse material.
Zhao, a Canadian citizen born in China, paid a $50 million fine and served nearly four months in prison last year after pleading guilty to charges mirroring those of his company.
Despite his resignation, Zhao retains his stake in Binance. “I made mistakes, and I take responsibility,” he said upon stepping down.
The unconditional pardon could pave the way for Zhao to return to the business he co-founded in 2017. It may also open opportunities for Binance to expand in the U.S. as the cryptocurrency industry flourishes under the Trump administration.
A Binance spokesperson, representing the world’s largest cryptocurrency exchange by trading volume, thanked President Donald Trump for the pardon.
Source: Reuters
Crypto Market Expert Speaks Out: No Absolute Winners, Caution Advised as Heat Rises
According to this expert, the period from 2026 to 2028 will serve as the ultimate “litmus test” for Vietnamese businesses operating digital asset platforms. Success will not only yield financial gains but also position Vietnam on the regional digital finance map.
Trump Pardons Binance CEO Changpeng Zhao
President Donald Trump has issued a pardon for Changpeng Zhao, the co-founder of cryptocurrency exchange Binance. Zhao had previously pleaded guilty to criminal charges related to inadequate anti-money laundering controls.
Today’s Crypto Market, October 22: New Trading Regulations in Vietnam
Market analysts observe that the buy-sell ratio in the cryptocurrency market has begun to stabilize, with investors actively exploring emerging opportunities.
Today’s Crypto Market, October 21: Another Enterprise Enters the Digital Asset Arena
Digital currency investors are forecasting a potential drop in Bitcoin’s value, predicting it could fall to $100,000 or even $95,000 if buying momentum fails to strengthen.
Today’s Crypto Market, October 20: What Are Experts Saying About Bitcoin’s Recovery After the Crash?
On-chain data reveals that over the past 30 days, the amount of Bitcoin held by institutional investors has surged by 8.4%, reaching a total of 4.04 million Bitcoin.
