Trump Pardons Binance Founder Changpeng Zhao, Calling His Prosecution ‘Unfair’

Washington: President Donald Trump has granted a full pardon to Changpeng Zhao, founder of Binance, the world’s largest cryptocurrency exchange.

The White House said the move aims to correct what it called an “unfair” prosecution under the Biden administration’s crypto enforcement drive.

Zhao, 46, pleaded guilty in late 2023 to failing to maintain an anti-money-laundering program. The plea was part of a $4.3 billion settlement between Binance and U.S. authorities that resolved several criminal and regulatory investigations.

He stepped down as Binance CEO following the case but retained his majority ownership. Prosecutors had alleged Binance’s weak compliance systems allowed transactions linked to drug cartels, terrorist networks and sanctioned entities.

White House Press Secretary Karoline Leavitt said Zhao was “unfairly targeted despite no allegations of fraud or identifiable victims.”

Zhao, who is worth an estimated $54.5 billion, thanked Trump on social media, saying he was “deeply grateful” and would continue to support crypto innovation in the United States.

The pardon adds to a series of Trump administration clemency decisions involving crypto executives and signals a friendlier regulatory stance toward the digital-asset industry.