US President Donald Trump has announced a full pardon for Binance founder Changpeng “CZ” Zhao, who was convicted in 2023 of violating anti-money laundering laws. The move is another sign of the current administration’s support for the crypto industry. According to Reuters, the White House’s decision is part of Trump’s broader strategy to rehabilitate the crypto sector, which he sees as “a symbol of American innovation.” Zhao, one of the most influential figures in the cryptocurrency world, stepped down as CEO of Binance in 2023 after the company pleaded guilty to AML violations and paid a $4.3 billion fine. Zhao himself spent four months in prison and paid a personal fine of $50 million, but retained his stake in Binance.
After the pardon, he thanked Trump on social media, promising to “make America the crypto capital.” The decision gives Zhao the opportunity to return to active participation in the business and likely expand Binance’s operations in the United States, where the crypto industry is experiencing a new boom thanks to Trump’s favorable policies. During his second presidential term, Trump has been actively using the power of pardons – from crypto platform executives to tech startup founders.
In 2023, Binance was accused of failing to report suspicious transactions linked to Hamas, Al-Qaeda and sites with illegal content. Despite this, the company continues to develop: in particular, it supported the crypto project World Liberty Financial, which is associated with the Trump family. Critics, including Senator Elizabeth Warren, said that Zhao “bought himself a pardon” by investing in projects close to the White House. At the same time, Trump supporters call it a “gesture of restoring justice” in the fight against the “anti-crypto policies” of the previous administration.
Changpeng Zhao’s pardon was not only an act of personal amnesty, but also a symbol of a new era in US crypto politics. Under Trump’s presidency, crypto assets are once again becoming part of the state’s economic strategy, which could radically change the landscape of the global financial market.
