Trump White House Could Soon Pardon Former Binance CEO Changpeng Zhao: FOX

Bitcoin Magazine

Trump White House Could Soon Pardon Former Binance CEO Changpeng Zhao: FOX

People close to Changpeng Zhao, the former CEO of Binance better known as ‘CZ,’ say discussions are intensifying inside the Trump White House over whether to issue a presidential pardon for the embattled crypto executive, according to reporting from​​ Charles Gasparino, a Senior Correspondent at FOX Business. 

Zhao, once among the most influential figures in the digital asset world, served time following a plea deal with the U.S. Department of Justice in 2023 that included a money-laundering conviction and $4.3 billion in fines for Binance. 

But according to several sources familiar with the matter, many within Trump’s inner circle now view the case as politically motivated — a hallmark of what they describe as the Biden administration’s broader crackdown on crypto.

Zhao remains Binance’s largest individual shareholder, and a pardon could clear the way for his formal return to the exchange, which he founded in 2017 and grew into the world’s largest Bitcoin and crypto trading platform.

Speculation of a Trump pardon has been looming for most of this year, but the decision is reportedly coming soon.

CZ background

Zhao’s 2023 conviction marked one of the most high-profile cases in the government’s campaign against major exchanges. 

U.S. prosecutors accused Binance of allowing illicit transactions with sanctioned entities and failing to implement proper anti-money-laundering controls. CZ pleaded guilty, stepped down as CEO, and paid a personal fine of $50 million.

Zhao served a four-month prison sentence. He was sentenced in April 2024 and released in September 2024, after spending time in a low-security federal prison in California and then a halfway house.

Despite this, even critics of Binance have questioned whether the criminal charges were proportionate. Trump’s team reportedly sees Zhao’s situation as an opportunity to demonstrate a “new era” of crypto policy — one that favors innovation over punishment.

A decision could come before year’s end, but Trump’s attention is divided between foreign policy flashpoints — including conflicts in Gaza, Ukraine, and renewed trade tensions with China — and that clemency discussions often take longer than expected, according to Gasparino.

For now, the crypto world is watching closely. A Trump pardon for CZ would mark not only a personal vindication for Zhao, but also be somewhat of a political statement: Trump signaling that the world’s most powerful government is truly open for Bitcoin business.

This post Trump White House Could Soon Pardon Former Binance CEO Changpeng Zhao: FOX first appeared on Bitcoin Magazine and is written by Micah Zimmerman.