Donald Trump Pardons Binance Founder Changpeng Zhao Amid Controversy
In an unexpected development, former President Donald Trump pardoned Changpeng Zhao, the founder of Binance, who was convicted in 2023 for not maintaining an effective anti-money laundering regime. Zhao received a four-month prison sentence and was released in September 2023 prior to the pardon.
During a CBS interview aired on November 3, 2025, Trump stated, "I don’t know who he is," distancing himself from Zhao and dismissing the investigation as a "Biden witch hunt."
The pardon has generated significant controversy amidst reports of business links between Zhao’s Binance and the Trump family’s company, World Liberty Financial. Many observers are concerned about the implications of this pardon on crypto regulatory enforcement and transparency.
This event also highlights the differing approaches to cryptocurrency regulations between the Trump and Biden administrations. The crypto industry has generally viewed Trump's stance as more favorable compared to the stricter regulatory environment under Biden.
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