Crypto Comeback: Trump Pardons Binance Founder Changpeng Zhao in Surprise Thursday Move
U.S. President Donald Trump has granted a full presidential pardon to Changpeng Zhao, popularly known as “CZ,” the founder and former chief executive of Binance, in a move that has sent shockwaves across the global cryptocurrency industry.
The White House announced the pardon on Thursday, describing Zhao as “a victim of the Biden administration’s war on cryptocurrency.”
The statement said the decision was part of Trump’s broader effort to “restore fairness and support innovators who helped build the global digital economy.”
Zhao, one of the most recognizable figures in the crypto world, pleaded guilty in November 2023 to violating the U.S. Bank Secrecy Act by failing to maintain an effective anti–money laundering program at Binance.
He was sentenced in April 2024 to four months in prison and paid a $50 million personal fine, while Binance itself agreed to a record $4.3 billion settlement with U.S. authorities.
Although Zhao had completed his prison term, the pardon removes remaining legal restrictions and clears the way for his potential return to the cryptocurrency industry.
The decision has drawn mixed reactions. Supporters of the former president praised the move as pro-business and pro-innovation, calling it a signal that the U.S. will once again embrace cryptocurrency leadership.
Critics, however, accused Trump of undermining financial accountability and rewarding powerful figures linked to compliance failures.
“This pardon sends a dangerous message that influential players in the financial system can evade consequences with political connections,” said Senator Elizabeth Warren, who has led congressional scrutiny of Binance’s operations.
Zhao, a Canadian citizen born in China, founded Binance in 2017 and quickly turned it into the world’s largest cryptocurrency exchange by trading volume.
His leadership and rapid expansion of Binance made him one of the most influential — and at times controversial — figures in the crypto world.
Industry analysts say the pardon could have far-reaching implications for U.S. crypto regulation, especially if it signals a friendlier stance toward digital assets under Trump’s leadership. Some expect a rebound in investor confidence, while others warn of weakened enforcement of financial laws.
Following the announcement, major cryptocurrencies including Bitcoin and Ethereum recorded modest gains, reflecting renewed optimism in the sector.
While Zhao has not publicly commented on the pardon, reports suggest he may soon re-engage with the industry, either through Binance’s global operations or new blockchain ventures.
The pardon of Changpeng Zhao underscores the deep divide over how the U.S. should regulate the trillion-dollar crypto industry between those who see it as the future of finance and those who view it as a threat to financial transparency and security.
