Trump Pardons Binance Founder Changpeng Zhao After Money Laundering Conviction
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Summary
US President Donald Trump has pardoned Changpeng Zhao (CZ), founder of cryptocurrency exchange Binance, who was sentenced to four months in prison in 2024 after pleading guilty to violating US money laundering laws. Binance was also ordered to pay $4.3 billion for helping users bypass sanctions. The pardon has reignited debates about cryptocurrency regulation and executive power.
Key quotes
· 4 pulledChangpeng Zhao, founder of the world's largest cryptocurrency exchange Binance, has been pardoned by US President Donald Trump.
Zhao, also known as 'CZ', was sentenced to four months in prison in April 2024 after pleading guilty to violating US money laundering laws.
Binance also pleaded guilty and was ordered to pay $4.3bn (£3.4bn) after a US investigation found it helped users bypass sanctions.
The pardon reignited debate over cryptocurrency regulation and executive power.
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