U.S. President Donald Trump has granted a presidential pardon to Binance founder Changpeng “CZ” Zhao, who had earlier pleaded guilty to charges linked to facilitating money laundering through the world’s largest cryptocurrency exchange, the White House announced on Thursday.
In a statement, White House Press Secretary Karoline Leavitt said, “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.”
Zhao’s conviction arose from a high-profile case filed by the Biden Justice Department, which accused Binance of failing to implement adequate anti-money-laundering measures. His case became a focal point in the ongoing debate over cryptocurrency regulation in the United States.
The pardon underscores Trump’s efforts to strengthen his image as a pro-crypto advocate, often criticizing the Biden administration’s policies as “overly aggressive” and restrictive to technological innovation.
As of press time, neither Binance nor Zhao had issued an official statement in response to the pardon.
