Zhao Skeptical of Pardon Over US Rivals Lobbying

Binance cofounder Changpeng Zhao expressed skepticism about receiving a presidential pardon following his 2024 prison sentence for antimoney-laundering violations, attributing potential opposition to lobbying by U.S. crypto exchange competitors wary of the company's market return. In an interview on the Crypto Banter podcast, Zhao said he lacked confidence in the outcome, noting, "You never know because we actually had very strong anti-lobbying from some of our perceived competitors in the U.S." He added that other exchanges "don't want me to get a pardon," citing concerns over Binance reentering the U.S. after its 2023 exit.

Zhao completed a four-month sentence in September 2024 after pleading guilty to violating the Bank Secrecy Act, the International Emergency Economic Powers Act and failing to register as a money transmitter. The case stemmed from a $4.3 billion settlement between Binance and U.S. authorities. Binance halted U.S. operations in November 2023 amid regulatory scrutiny, though its separate U.S. arm, Binance.US, resumed services for eligible users in February 2025.

U.S. President Donald Trump granted Zhao a pardon in October 2025, more than a year after his...