US President Donald Trump Grants Pardon to Binance Founder CZ
U.S. President Donald Trump has granted a significant pardon to Binance founder Changpeng “CZ” Zhao. This decision comes months after Zhao publicly requested a presidential pardon.
Pardon Overview
Changpeng Zhao served four months in prison in 2024 after pleading guilty to charges related to the Bank Secrecy Act. His legal troubles began in November 2023 when he admitted to these violations.
- Name: Changpeng “CZ” Zhao
- Position: Founder of Binance
- Prison Time: 4 months in 2024
- Plea Agreement: Guilty to Bank Secrecy Act violations
- Plea Date: November 2023
- Pardon Request: May 2025
Impact of the Pardon
As part of Zhao’s plea deal, he relinquished his leadership role at Binance, the cryptocurrency exchange he founded in 2017. Additionally, Binance reached a guilty plea on its own charges and agreed to operate under a court-appointed monitor.
The presidential pardon allows Zhao to resume more business activities in the United States. Following this announcement, the price of the Binance coin, BNB, increased by approximately 3%, reaching $1,144.70.
Context of Zhao’s Legal Issues
Prior to the pardon, revelations surfaced in various media, including Bloomberg and the Wall Street Journal, detailing Zhao’s team’s efforts to secure the pardon. This is a notable development in the cryptocurrency sector, as it highlights the intersection of legal challenges and executive intervention.
Overall, this pardon represents a turning point for Zhao and Binance in navigating the complex regulatory landscape in the U.S.
