Trump Pardons Binance Founder Changpeng Zhao
5 months ago
- #pardon
- #Trump
- #cryptocurrency
- President Donald Trump pardoned Binance founder Changpeng Zhao, known as CZ, who served four months in prison for enabling money laundering at his cryptocurrency exchange.
- Zhao and Binance have supported Trump family crypto projects, and Trump cited recommendations from 'a lot of people' who claimed Zhao was not guilty of any crime.
- The pardon reflects Trump's pro-crypto stance, contrasting with the Biden administration's enforcement approach, and aligns with efforts to drop crypto-related enforcement actions.
- Zhao admitted to ignoring U.S. banking laws, allowing illegal trades linked to terrorist groups, but expressed regret during sentencing.
- The pardon coincided with a price spike for a World Liberty Financial token, a crypto project involving Trump and his sons, highlighting financial ties.