Trump Pardons Binance Founder Changpeng Zhao, Here’s Everything You Need to Know

U.S. President Donald Trump announced that he has officially pardoned Binance founder Changpeng “CZ” Zhao. He stated that he received “strong recommendations” and widespread support from various groups who argued CZ had been unfairly prosecuted.

Speaking at a press conference on Thursday, Trump said the decision came after “a lot of people” vouched for Zhao’s integrity and insisted that “he wasn’t guilty of anything.” 

The president added, “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. It wasn’t a crime, he was persecuted by the Biden Administration.”

Former Administration’s Actions Under Scrutiny

Zhao, widely known as “CZ” in the crypto community, was sentenced to four months in prison earlier this year after pleading guilty to violating the U.S. Bank Secrecy Act. The charge stemmed from Binance’s failure to maintain an effective anti–money laundering program.

His attorney, Teresa Goody Guillén, defended the pardon as both fair and necessary. “CZ had a single charge of failure to have an effective compliance program. NO fraud, NO victims, NO criminal history, NO money laundering,” she stated. Guillén emphasized that Zhao’s sentence was unprecedented: “He is the first and only known first-time offender in U.S. history to receive a prison sentence for this single, non-fraud-related charge.”

The attorney also noted that the judge overseeing the case found no evidence that Zhao knowingly allowed illicit transactions on Binance and accepted that it was reasonable for him to believe the platform did not host illegal funds.

Zhao Expresses Gratitude and Looks Ahead

Following the announcement, Zhao took to X to express his gratitude for the pardon. “I’m deeply grateful,” he wrote. He further added that he would “do everything we can to help make America the Capital of Crypto and advance Web3 worldwide.”

Under his previous plea deal, Zhao was required to step down as Binance’s CEO and barred from working at the exchange. However, with the presidential pardon, that restriction may now be lifted, potentially opening the door for CZ’s return to Binance’s leadership.