Trump pardons Binance cofounder Zhao, clears federal conviction

President Donald Trump on Thursday granted a full pardon to Changpeng Zhao, the cofounder of Binance, clearing the federal conviction that led to a short prison term and a high‑profile settlement with U.S. authorities. The White House said the pardon follows a thorough review by White House counsel, and Zhao has since thanked the president on social media.

Zhao pleaded guilty in 2023 to failing to maintain an effective antimoney‑laundering program at Binance and served a four‑month federal sentence. The company reached a $4.3 billion settlement with the Department of Justice and other agencies as part of the resolution. Prosecutors had said Binance’s lapses allowed millions of sanctions‑violating transactions and facilitated activity tied to hackers, drug traffickers and terrorist groups; the government’s case cited more than a million transactions that allegedly violated U.S. sanctions.

The pardon caps months of behind‑the‑scenes advocacy on Zhao’s behalf. Reports said Binance and Zhao engaged lawyers and lobbyists in Washington during the months before the pardon, including hiring a government relations firm in late September for a reported fee of $450,000 and retaining a...