President Donald Trump has pardoned Changpeng Zhao, founder of the cryptocurrency exchange Binance, according to people familiar with the matter. The move follows months of lobbying by Zhao and renewed ties between Binance and the Trump family’s crypto venture.
- Trump signed the pardon on Wednesday, reversing Zhao’s 2023 conviction for violating U.S. anti-money-laundering laws.
- The White House said the decision marked the end of the “Biden Administration’s war on cryptocurrency.”
- Binance had been barred from operating in the U.S. following its guilty plea but is now expected to seek reinstatement.
- Zhao served four months in prison and was released in September 2024. The company hired lobbyist Ches McDowell earlier this year to advocate for his pardon.
- Since Trump’s election, Binance has supported the Trump family’s World Liberty Financial venture, which has significantly boosted the president’s personal wealth.
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Editor’s Note: This is a developing story. This article may be updated as more details become available.
