Trump Pardons Binance Founder CZ Zhao

U.S. President Donald Trump pardoned Changpeng "CZ" Zhao, the founder and former CEO of cryptocurrency exchange Binance, on October 23, 2025, in a move that has sparked debates over potential conflicts of interest and the scope of presidential clemency. The pardon came nearly two years after Zhao's guilty plea to violating the Bank Secrecy Act by failing to implement adequate anti-money laundering programs at Binance, for which he served a four-month prison sentence from April to September 2024.

Zhao's legal troubles stemmed from a broader 2023 settlement in which Binance agreed to pay approximately $4.3 billion across multiple U.S. agencies, including the Department of Justice, the Treasury Department's Financial Crimes Enforcement Network, the Office of Foreign Assets Control, and the Commodity Futures Trading Commission. The penalties resolved charges related to anti-money laundering violations, sanctions evasion, and operating as an unregistered money transmitter. Binance also pleaded guilty to related offenses and accepted a three-year compliance monitorship, while Zhao personally paid a $50 million fine and stepped down as CEO.

According to Zhao's attorney, Teresa Goody...