Trump pardons Binance founder Changpeng Zhao

President Donald Trump has pardoned Binance founder Changpeng Zhao, also known as CZ, who previously pleaded guilty to money laundering charges, the White House announced Thursday.

The decision comes two months after reports suggested the Trump family’s own cryptocurrency venture benefited from ties to a Binance-linked trading platform.

“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,” said White House press secretary Karoline Leavitt. She argued that Zhao faced unfair treatment despite “no allegations of fraud or victims.”

When asked why he granted the pardon, Trump said, “I don’t know, he was recommended by a lot of people. A lot of people say that he wasn’t guilty of anything.”

Zhao thanked Trump on X, writing that he was “deeply grateful” and would work to make America “the Capital of Crypto.”

Sen. Elizabeth Warren criticized the move, calling it “corruption,” saying Zhao “boosted one of Donald Trump’s crypto ventures and lobbied for a pardon.”

Zhao had pleaded guilty in 2023 and served a short sentence as part of a $4.3 billion settlement with the Justice Department. Binance called the pardon “incredible news” and praised Trump’s support for the crypto industry.