Trump pardons Binance founder Changpeng ‘CZ’ Zhao

U.S. President Donald Trump has granted a full pardon to Changpeng Zhao, the founder of Binance. The administration stated this action is part of its initiatives to engage with the cryptocurrency industry, according to Reuters.

Zhao, also known as «CZ,» stepped down as Binance’s CEO in 2023 after pleading guilty to failing to maintain adequate anti-money laundering controls. He paid a $50 million fine and served nearly four months in prison, while Binance paid $4.3 billion in penalties.

Following the announcement, Zhao expressed appreciation on social media, stating an intention to support the U.S. as a leader in the cryptocurrency sector.

With the pardon, Zhao may return to a leadership role at Binance, which remains one of the largest cryptocurrency exchanges. The decision has been noted as reflecting Trump’s stance toward the digital asset sector, following pardons for individuals associated with BitMEX, Silk Road and other technology-related cases, the news agency reported.