Changpeng Zhao Pardoned by Former President Trump: What This Means for Binance and Crypto
On October 23, 2025, Changpeng Zhao, the founder of Binance, was granted a presidential pardon by former President Donald Trump. Zhao had previously been convicted for enabling money laundering, resulting in a four-month prison sentence that concluded in September 2024. Despite the conviction, no allegations of fraud or identifiable victims were cited by the White House, with Press Secretary Karoline Leavitt stating that the prosecution was part of what the administration considered a "war on cryptocurrency."
The pardon has significant implications for Zhao and Binance. With this executive relief, Zhao may retake control of Binance, one of the world’s largest cryptocurrency exchanges. This move comes after the U.S. government ordered Binance to pay over $4 billion in fines, with Zhao personally agreeing to a $50 million penalty. Despite these financial setbacks, Zhao’s fortune remains substantial, estimated at nearly $55 billion, placing him among the world’s top billionaires.
The political context of the pardon is notable. Donald Trump has allies within the crypto industry and has previously been associated with crypto ventures linked to his family. Lobbyist Charles McDowell, known for connections to Trump’s family, has actively advocated for executive relief for Zhao and Binance, highlighting the intertwined nature of politics and crypto.
This pardon reignites ongoing debates about cryptocurrency regulation and the challenges that crypto leaders face amid political scrutiny. For those interested in navigating the crypto space with flexible financial options, platforms like Bitlet.app offer innovative solutions such as Crypto Installments, allowing users to buy cryptocurrencies now and pay monthly, making crypto investment more accessible even during turbulent times.
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