Donald Trump has pardoned convicted crypto executive Changpeng Zhao, who founded the Binance crypto exchange.
Note – the Trump family’s own crypto venture, which has generated about $4.5 billion since the 2024 election, has been working with a trading platform quietly administered by Binance, according to the Wall Street Journal.
From CNBC:
Zhao, in November 2023, pleaded guilty in Seattle federal court and agreed to step down as Binance CEO as part of a $4.3 billion settlement by the company with the Department of Justice.
Zhao had been charged with violating the Bank Secrecy Act for failing to implement an effective anti-money-laundering program and for willfully violating U.S. economic sanction in an intentional effort to profit from the American market without implementing legally required controls, the DOJ said.
Binance had been charged with conducting an unlicensed money-transmitting business, violating the International Emergency Economic Powers Act and conspiracy.
He was sentenced in April 2024 to just four months in jail.
Federal prosecutors had asked a judge to sentence Zhao to three years in prison.
Asked today why he pardoned Zhao, Trump replied, “I don’t know, he was recommended by a lot of people.”
COLLINS: Today you pardoned the founded of Binance. Can you explain why you did that?
TRUMP: Which one was that?
COLLINS: The founder of Binance
TRUMP: I believe we’re talking about the same person, because I do pardon a lot of people. I don’t know. He was recommended by a… pic.twitter.com/yl8WKhfmyt
— Aaron Rupar (@atrupar) October 23, 2025
“Binance has business with Trump’s crypto company — how do you respond to accusations that pardoning Zhao is a corrupt act?”
LEAVITT: “The president is exercising his constitutional authority.” ♀️
Translation: it’s a corrupt act pic.twitter.com/UefVZ5L1Qt
— The Tennessee Holler (@TheTNHoller) October 23, 2025
Changpeng Zhao is comically corrupt. And he just successfully won a pardon from Trump by boosting the Trump family crypto coin. I mean, this is a months-long scandal in any other normal administration. pic.twitter.com/zMsN8VDZo9
— Isaac Saul (@Ike_Saul) October 23, 2025
CZ pleaded guilty to a criminal money laundering charge and was sentenced to prison.
But then he financed President Trump’s stablecoin and lobbied for a pardon.
Today, he got it.
If Congress does not stop this kind of corruption, it owns it. pic.twitter.com/NsWeaJcVeK
— Elizabeth Warren (@SenWarren) October 23, 2025
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