TLDR
- Trump signed a pardon for Binance founder CZ on Wednesday, per WSJ sources.
- CZ pleaded guilty in 2023 to failing to follow U.S. anti-money laundering rules.
- He served four months in prison and was released in September 2024.
- The pardon is not yet listed on the White House site or Federal Register.
Former U.S. President Donald Trump has reportedly pardoned Changpeng “CZ” Zhao, the founder of cryptocurrency exchange Binance. According to The Wall Street Journal, the pardon was signed on Wednesday, following months of speculation and appeals. Zhao had served a short prison sentence after pleading guilty to a criminal charge in 2023. Official confirmation has not yet appeared on the White House website or in the Federal Register.
Background on the Conviction
Changpeng Zhao pleaded guilty in November 2023 to violating the Bank Secrecy Act. Prosecutors said Binance, under Zhao’s leadership, failed to maintain an adequate Anti-Money Laundering (AML) program.
As part of the plea deal, Zhao admitted that Binance allowed users to move funds without proper checks. The platform was found to have weak compliance systems, which exposed it to potential illicit activity. He also agreed to step down as CEO of Binance after the plea.
In April 2024, Zhao was sentenced to four months in a U.S. federal prison. He served the sentence and was released in September 2024. The sentencing followed a $4.3 billion settlement between Binance and U.S. regulators over similar compliance issues.
Trump Signs Pardon After Reported Lobbying
According to The Wall Street Journal, Donald Trump signed the pardon letter on Wednesday. Sources familiar with the matter said the decision followed months of lobbying by Zhao’s legal team and other supporters in the crypto industry.
White House Press Secretary Karoline Leavitt confirmed the move in a statement shared with reporters. “The president has exercised his constitutional authority by issuing a pardon to Changpeng Zhao,” she said.
Leavitt also added that the Biden administration had targeted the crypto industry. She described the pardon as a signal that the “war on crypto is over.”
Zhao had previously expressed hope that Trump would intervene in his case. In a May 2025 interview, he said, “I believe in second chances, and I trust the justice system will allow that.”
No Official Posting Yet on Government Channels
Despite confirmation from sources and public statements, the pardon had not yet been published on the White House website or in the Federal Register as of Thursday.
Presidential pardons are typically listed in these locations as part of the public record. Legal experts say the delay does not affect the validity of the pardon if the president has already signed it.
Government agencies are expected to process and file the official documents soon. Until that happens, the exact terms and scope of the pardon remain unclear.
Market Reaction and Binance Response
News of the pardon had an immediate effect on the cryptocurrency market. The BNB token, which is closely tied to Binance, rose sharply following the report.
Data from TradingView showed that BNB jumped from under $1,120 to above $1,140 in intraday trading. The token gained over 7% in the past 24 hours.
Binance has not yet issued a formal statement about the pardon. Company representatives have previously supported Zhao throughout the legal process.
The company continues to operate under new leadership and has said it is committed to improving compliance and rebuilding trust.
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