President Trump Pardons Binance Founder Changpeng Zhao

U.S. President Donald Trump has issued a presidential pardon for Binance founder Changpeng “CZ” Zhao, saying he made the decision after hearing from “a lot of people” who believed Zhao was wrongly prosecuted. The pardon had been expected for quite some time now with odds on prediction markets like Polymarket rising in the past weeks.

Good to Know

• The pardon was signed Wednesday and confirmed by Binance.
• CZ served four months in prison after pleading guilty to a Bank Secrecy Act violation.
• The pardon may allow CZ to return to Binance as CEO or advisor.

Trump Says Zhao Was “Persecuted”

During a press conference on Thursday, President Trump said the pardon followed widespread lobbying from industry figures and supporters. The President noted:

“I don’t know him, I don’t believe I’ve ever met him, but I’ve been told he had a lot of support, and they said that what he did is not even a crime. He was persecuted by the Biden Administration.”

The president described the move as part of his broader effort to “correct politically motivated prosecutions” from previous administrations.

Trump added:

“He was recommended by a lot of people. People say that he wasn’t guilty of anything.”

In April, Changpeng Zhao was sentenced to four months in prison after pleading guilty to violating the U.S. Bank Secrecy Act by failing to maintain an adequate anti–money laundering program at Binance.

As part of his plea agreement, Zhao stepped down as Binance CEO and was barred from holding any management role at the exchange. The company paid billions in fines and agreed to federal oversight as part of its settlement.

Zhao’s return to Binance — or even to the crypto industry in an official capacity — was considered unlikely until the presidential pardon lifted his legal restrictions.

Zhao Responds with Gratitude

Following the announcement, Zhao posted on X (formerly Twitter):

“Deeply grateful. We’ll do everything we can to help make America the Capital of Crypto and advance Web3 worldwide.”

His statement signaled a renewed commitment to expanding blockchain innovation, particularly within the U.S., where Binance has faced years of regulatory friction.

Crypto industry leaders have already hailed the pardon as a symbolic turning point in Washington’s approach to digital asset regulation. Many see it as a signal that Trump intends to rebuild bridges with the crypto community after years of enforcement-heavy policies.

Legal experts note that while the pardon erases Zhao’s criminal record, it does not automatically reinstate his eligibility to manage regulated financial entities. Any return to Binance would likely require regulatory review and approval by relevant U.S. agencies.

FAQ

Why was CZ Zhao sentenced in the first place?

He pleaded guilty to violating the Bank Secrecy Act by failing to maintain an effective anti–money laundering program at Binance.

What does the presidential pardon mean for him?

The pardon clears his conviction and could allow him to reengage with Binance or other crypto ventures, subject to regulatory approval.

Did Trump know Zhao personally?

No. Trump stated he had never met Zhao but acted after hearing “many recommendations” from industry supporters.

How did Zhao respond?

He thanked Trump and promised to help make the U.S. “the Capital of Crypto.”