"U.S. President Donald Trump has pardoned Binance founder Changpeng Zhao, who created the world's largest cryptocurrency exchange and served prison time after failing to stop criminals from using the platform to move money connected to child sex abuse, drug trafficking and terrorism. Zhao had asked Trump for a pardon previously. He has deep ties to World Liberty Financial, a crypto venture that the Republican president and his sons Eric and Donald Jr. launched in September."
"Trump's most recent financial disclosure report reveals he made more than $57 million US last year from World Liberty Financial, which has launched USD1, a stablecoin pegged at a 1-to-1 ratio to the U.S. dollar. World Liberty Financial also recently announced that an investment fund in the United Arab Emirates would be using $2 billion US worth of USD1 to purchase a stake in Binance."
"Zhao also has publicly said that he had asked Trump for a pardon that could nullify his conviction. White House press secretary Karoline Leavitt said in a statement Thursday that the Biden administration prosecuted Zhao out of a "desire to punish the cryptocurrency industry." She said there were "no allegations of fraud or identifiable victims," though Zhao had pleaded guilty in November to one count of failing to maintain an anti-money-laundering program. "I failed here," Zhao told the court last year. "I deeply regret my failure, and I am sorry.""
President Donald Trump granted a pardon to Binance founder Changpeng Zhao, who pleaded guilty to failing to maintain an anti‑money‑laundering program and served prison time after criminals used the exchange to move funds tied to child sex abuse, drug trafficking and terrorism. Zhao previously requested a pardon and has business ties to World Liberty Financial, a crypto venture launched by Trump and his sons that created the USD1 stablecoin. Trump's disclosure shows over $57 million earned from that venture last year. World Liberty Financial announced a UAE fund will use $2 billion in USD1 to buy a stake in Binance. White House press secretary Karoline Leavitt characterized the prosecution as politically motivated and said there were no allegations of fraud or identifiable victims. Zhao expressed remorse and apologized in court.
Read at www.cbc.ca
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