Trump Administration Reportedly Considering Pardon for Binance’s Changpeng Zhao

The Trump administration is reportedly leaning toward granting a presidential pardon to Binance co-founder Changpeng “CZ” Zhao, who pleaded guilty to money laundering violations in 2024 and served four months in prison. 

The news, first reported by New York Post columnist and Fox correspondent Charles Gasparino, cites sources close to Zhao who claim Trump insiders view the case as “weak” and disproportionate to the penalty imposed. Gasparino noted that several advisers see CZ case as emblematic of prior overreach by U.S. regulators toward the crypto industry.

The move, if finalized, would continue the White House’s friendlier stance toward digital assets. 

The administration has already advanced industry-focused legislation, and dropped multiple enforcement actions. It has also issued pardons for other crypto figures, including the three BitMEX founders and Silk Road creator Ross Ulbricht.

Zhao Responds to Reports

Zhao responded to Gasparino’s post on Friday, clarifying details of his case but stopping short of confirming knowledge of a pending pardon. 

“Thank you, Charles. Great news if true. Minor correction, there were no fraud charges,” Zhao said on X. 

“I pleaded to a single violation of the Banking Secrecy Act (BSA)… I believe I am the only person in U.S. history sentenced to jail for a single BSA violation with no prior offenses,” he added.

Zhao’s 2023 plea deal saw Binance pay a $4.3 billion fine, while he personally paid $50 million and stepped down as CEO. His conviction barred him from working at the exchange and temporarily restricted his travel and business activities.

Political Optics and Crypto Ties

Gasparino cautioned that the pardon process remains “fluid,” as some in the White House reportedly worry about the optics of pardoning a crypto executive given Trump’s personal ties to the digital asset sector. The president and his family have been involved in crypto ventures, including the Trump memecoin and the World Liberty Financial DeFi project, raising concerns about conflicts of interest.

Even so, industry insiders believe the case against Zhao was influenced by heightened scrutiny following the FTX collapse and Sam Bankman-Fried’s conviction. 

While no official statement has been made by the administration, reports suggest a decision could come within weeks.