President Trump Pardons Binance Founder Changpeng Zhao

Presidential Pardon Issued for Binance Founder

President Donald Trump has granted a full and unconditional pardon to Changpeng Zhao, the founder and former CEO of the world's largest cryptocurrency exchange, Binance. The White House announced the pardon on Thursday, October 23, 2025, marking a significant development for the cryptocurrency industry and for Zhao, who had previously faced federal charges in the United States.

Zhao, often known by his initials 'CZ', pleaded guilty in November 2023 to one count of failing to maintain an effective anti-money laundering (AML) program, a violation of the Bank Secrecy Act. This plea was part of a broader settlement where Binance agreed to pay a substantial $4.3 billion fine to resolve investigations by the Department of Justice. As part of his plea agreement, Zhao stepped down from his role as CEO of Binance and personally paid a $50 million fine. He was subsequently sentenced to four months in prison in April 2024 and completed his sentence in September 2024.

White House Justification and Zhao's Response

In a statement, White House spokeswoman Karoline Leavitt confirmed the pardon, asserting that '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.' Leavitt further stated that the Biden administration pursued Zhao 'despite no allegations of fraud or identifiable victims,' and declared that 'The Biden administration's war on crypto is over.'

Following the announcement, Changpeng Zhao expressed his gratitude on social media platform X, stating, 'Deeply grateful for today's pardon and to President Trump for upholding America's commitment to fairness, innovation, and justice.' He added, 'Will do everything we can to help make America the Capital of Crypto and advance web3 worldwide.'

Implications for the Cryptocurrency Landscape

The pardon of Changpeng Zhao is seen by many as a strong signal of the Trump administration's supportive stance towards the cryptocurrency industry. This move follows a series of other high-profile clemency grants by President Trump involving individuals convicted of white-collar crimes. Analysts suggest the pardon could potentially pave the way for Binance to re-establish its operations in the United States, from which it had been barred following Zhao's guilty plea.

The decision has also drawn criticism from some political figures. Senator Elizabeth Warren, a prominent critic of the cryptocurrency sector, commented on the pardon, stating, 'CZ pleaded guilty to a criminal money laundering charge and was sentenced to prison. But then he financed President Trump's stablecoin and lobbied for a pardon. Today, he got it.' This pardon also highlights the growing ties between the Trump family's crypto venture, World Liberty Financial, and the broader cryptocurrency ecosystem.