"Changpeng Zhao, founder of the world's largest cryptocurrency exchange Binance, has been pardoned by US President Donald Trump. Mr 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 was ordered to pay $4.3bn (3.4bn) after a US investigation found it helped users bypass sanctions. A White House official confirmed to the BBC Mr Zhao has been pardoned, which was first reported by the Wall Street Journal."
"According to the WSJ, the company has spent nearly a year pursuing a pardon for its former boss, who completed his four month prison sentence in September 2024. The move comes amid the Trump administration's adoption of a more friendly stance towards cryptocurrency."
Changpeng Zhao, founder of Binance, received a presidential pardon from Donald Trump after pleading guilty to US money laundering violations and serving a four-month sentence. Binance was ordered to pay $4.3bn following a US investigation that found the exchange helped users bypass sanctions. The company, registered in the Cayman Islands, remains the largest platform for trading cryptocurrencies and digital assets. Binance reportedly pursued a pardon for nearly a year and Zhao completed his sentence in September 2024. The pardon aligns with the Trump administration's more favorable posture toward cryptocurrency, including efforts to expand national crypto initiatives and investment access.
Read at www.bbc.com
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