Former President Donald Trump has issued a full and unconditional pardon to Changpeng Zhao, the founder of the world's largest cryptocurrency exchange, Binance, following his prison sentence for crypto-related offenses, The Guardian reported on Thursday, October 23, 2025. This significant move, which comes after Zhao had previously sought a pardon, marks a pivotal moment for the crypto industry and raises questions about political influence.
wikipedia.org reported, Zhao, commonly known as CZ, had pleaded guilty in November 2023 to one count of failing to maintain an effective anti-money laundering program at Binance, leading to a four-month prison sentence in April 2024, according to AP News and Hindustan Times. In a statement defending the pardon, the White House claimed Zhao was "prosecuted by the Biden administration in their war on cryptocurrency," a sentiment echoed in reports by The Washington Post and Quartz.
The pardon, announced on Thursday, October 23, 2025, has been widely interpreted by news outlets, including The Guardian, as a signal of a softer regulatory stance towards the cryptocurrency sector under the current administration. As part of its settlement with the U.S. Department of Justice, Binance itself had agreed to pay a massive $4.3 billion fine, as reported by The Washington Post and The Guardian.
theguardian.com noted, This decision has drawn scrutiny due to the Trump family's burgeoning involvement in the crypto space, particularly through their venture, World Liberty Financial, which launched a stablecoin called USD1, as detailed by Quartz and Hindustan Times. Trump's latest financial disclosure revealed he earned over $57 million from cryptocurrency ventures, including World Liberty Financial, according to reports from The Economic Times and Moomoo.
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