White House Reportedly Weighs Pardon for Binance Founder CZ Zhao

The White House is reportedly weighing a possible pardon for Changpeng Zhao, the founder and former chief executive of Binance, according to a report from the New York Post. Supporters of the idea claim that Zhao was caught in the 2023 crypto enforcement wave under the Biden administration and deserves a second look under the new leadership.

Good to Know

• Zhao pleaded guilty in November 2023 to violating the Bank Secrecy Act.
• A pardon would remove his felony record and could restore access to regulated markets.
• Zhao posted on X after the report, writing: “Great news if true,” followed by four praying-hands emojis.

Zhao admitted to one count related to Binance’s failure to maintain proper anti-money laundering controls during his tenure as CEO. He stepped down following the plea agreement and served a four-month sentence earlier this year.

A presidential pardon would effectively erase the conviction, easing regulatory barriers for Binance’s U.S. operations and potentially improving the exchange’s relationship with state and federal authorities. Industry observers believe it could also signal a shift in Washington’s stance toward digital assets under the new administration.

Despite growing speculation, neither the White House nor Zhao’s attorney Teresa Goody Guillen has issued any comment. Insiders say the debate reflects broader policy discussions about how to handle high-profile crypto cases that originated during the previous administration.

Zhao’s social media post on Friday drew a flood of reactions from crypto traders and supporters, many viewing the possible pardon as symbolic of a changing political tone toward blockchain innovation and financial reform.

Rumors of a potential pardon have circulated since Donald Trump returned to office a year ago, with several reports suggesting that some members of the new administration view Zhao’s prosecution as excessively harsh.