Trump Grants Pardon to Binance Founder Changpeng Zhao
President Trump has exercised his constitutional power to issue a full pardon for Mr. Zhao, who was targeted by the Biden Administration as part of their ongoing campaign against cryptocurrency,” said Press Secretary Karoline Leavitt in an official statement.
In November 2023, Zhao pleaded guilty to federal charges and resigned as Binance’s CEO. His plea was part of a $4.3 billion settlement between the company and the U.S. Department of Justice.
In April 2024, Zhao received a four-month prison sentence, a punishment significantly lighter than the three years federal prosecutors had recommended.
The decision to pardon Zhao comes less than a week after President Trump commuted the 87-month sentence of former New York congressman George Santos, who had been convicted of wire fraud and aggravated identity theft.
Zhao’s pardon is expected to reignite debate in Washington over the Trump administration’s stance toward digital assets and financial regulation, especially following his previous criticism of how federal agencies handled cryptocurrency oversight under President Biden.
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