Changpeng “CZ” Zhao, the founder of Binance, the world’s largest cryptocurrency exchange, has received a full pardon from U.S. President Donald Trump.
Trump signed the pardon on Wednesday, noting that he had been prompted to act by numerous appeals from various individuals.
Speaking at a press conference on Thursday, Trump said he did not personally know Zhao. However, he added that he had been told the Binance founder was “unfairly treated” by the Biden Administration.
“People said he wasn’t guilty of anything,” Trump said, further adding that many believed Zhao’s actions “weren’t even a crime.”
Background
Zhao’s legal matters emerged in November 2023, when he pleaded guilty to a regulatory violation linked to inadequate Anti-Money Laundering (AML) procedures at Binance, in violation of the Bank Secrecy Act. He subsequently consented to resign as the exchange’s CEO.
Then, in April 2024, a US court sentenced him to a four-month prison term. He was subsequently released in September 2024 upon completion of his sentence.
The case never involved fraud, theft, or money laundering. Prosecutors focused solely on compliance lapses, an unusual basis for a criminal conviction in the crypto industry.
Defense Hails Decision as Justified
Following the pardon, Zhao’s attorney Teresa Goody Guillén praised the decision on X (formerly Twitter). She described Zhao’s conviction as “a single charge of failure to have an effective compliance program” and emphasized that he had no criminal history and no victims.
Guillén stated that CZ represents the first instance in U.S. history of a first-time offender being sentenced to prison for a sole charge that does not involve fraud. She added that the judge found no evidence that Zhao knew of any illicit transactions and believed there were no illegal funds on the platform.
Facts Matter: @cz_binance was rightfully pardoned by @POTUS for a single charge of failure to have an effective compliance program. NO fraud, NO victims, NO criminal history. NO money laundering.
CZ is the first and only known first-time offender in U.S. history to receive a…
— Teresa Goody Guillén (@teresagoody) October 23, 2025
CZ Responds with Gratitude and Optimism
After the pardon, Changpeng Zhao took to X to thank Trump and his supporters. He wrote that he was “deeply grateful” and eager to help strengthen the US role in digital innovation.
“We are committed to supporting initiatives that position America as a leading hub for cryptocurrency and to promoting the growth of Web3 on a global scale,” Zhao stated.
His plea deal had prohibited him from holding a position at Binance. Nevertheless, the presidential pardon may now pave the way for his return to the company’s leadership.
Deeply grateful for today’s pardon and to President Trump for upholding America’s commitment to fairness, innovation, and justice.
🙏🙏🙏🙏Will do everything we can to help make America the Capital of Crypto and advance web3 worldwide.
(Still in flight, more posts to come.)…
— CZ 🔶 BNB (@cz_binance) October 23, 2025
BNB Token Surges After Announcement
The crypto market reacted swiftly to the news. Binance’s native token, BNB, jumped by 6%, rising from $1,085 to $1,150. The price later stabilized around $1,139, reflecting renewed optimism among investors.
Analysts said the rally underscored confidence in Binance’s long-term stability and potential for renewed leadership under Zhao.
Another Crypto Clemency from Trump
Zhao’s pardon adds to a growing list of crypto industry figures who have received clemency from Trump. Following his inauguration in January 2025, he has extended pardons to the three BitMEX co-founders, including Arthur Hayes, as well as Ross Ulbricht, founder of Silk Road, who had been sentenced to two life terms and 40 additional years.
The latest decision reinforces Trump’s emerging image as a pro-crypto president.
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