Trump pardons convicted Binance founder Changpeng Zhao [View all]
Source: CNBC
Published Thu, Oct 23 2025 11:24 AM EDT Updated 12 Min Ago
President Donald Trump has pardoned Binance founder Changpeng Zhao, who had previously pleaded guilty to enabling money laundering while heading the cryptocurrency exchange, the White House said Thursday.
The pardon came two months after The Wall Street Journal reported that the Trump family’s own crypto venture, which has generated about $4.5 billion since the 2024 election, has been helped by “a partnership with an under-the-radar trading platform quietly administered by Binance.”
“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,” White House Press Secretary Karoline Leavitt said in a statement.
“In their desire to punish the cryptocurrency industry, the Biden Administration pursued Mr. Zhao despite no allegations of fraud or identifiable victims,” Leavitt said.
Read more: https://www.cnbc.com/2025/10/23/trump-pardons-binance-founder-cz-zhao.html
REFERENCES
https://www.democraticunderground.com/10143199220
https://www.democraticunderground.com/10143233793
https://www.democraticunderground.com/10143263808
https://www.democraticunderground.com/10143337914
Article updated.
Previous article -
President Donald Trump has pardoned Binance founder Changpeng Zhao, who had previously pleaded guilty to enabling money laundering while heading the cryptocurrency exchange, the White House said Thursday.
"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," White House Press Secretary Karoline Leavitt said in a statement.
Zhao, in November 2023, pleaded guilty in the case and agreed to step down as Binance CEO as part of a $4.3 billion settlement by the company with the Department of Justice.
He was sentenced in April 2024 to just four months in jail. Federal prosecutors had asked a judge to sentence Zhao to three years in prison.
Original article -
President Donald Trump has pardoned Binance founder Changpeng Zhao, who had previously pleaded guilty to enabling money laundering while heading the cryptocurrency exchange, the White House said Thursday.
"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," White House Press Secretary Karoline Leavitt said in a statement.
Zhao in November 2023 pleaded guilty in the case and agreed to step down as Binance CEO as part of a $4.3 billion settlement by the company with the Department of Justice.
He was sentenced in April 2024 to just four months in jail.
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