Donald Trump may be considering granting a presidential pardon to Changpeng Zhao, better known as CZ, the co-founder and former CEO of Binance. Sources close to the situation suggest that internal discussions are underway that could allow Zhao to return to the world’s largest cryptocurrency exchange.
Zhao’s troubles began in 2023 when the U.S. Department of Justice accused Binance of weak compliance with Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations. He later admitted to violating the Bank Secrecy Act, stepping down from his role as CEO as part of a settlement deal. Binance paid a record $4.3 billion in fines, while Zhao personally paid $50 million and was barred from holding any executive position at the company. Despite this, he retained his stake as the exchange’s largest shareholder.
In 2024, Zhao was sentenced to four months in prison for his role in the violations, and he was released in April after completing his sentence. Since then, he has shifted his focus toward philanthropy and innovation, launching an educational nonprofit called Giggle Academy and investing in biotechnology and artificial intelligence projects.
The latest development was sparked by a post on X from New York Post columnist and Fox correspondent Charles Gasparino, who reported that Trump’s inner circle views the case against Zhao as “weak” and undeserving of felony charges or jail time. This stance has raised speculation that a pardon could pave the way for Zhao’s return to Binance’s leadership in some capacity.
Reacting to the report, Zhao commented that it would be “great news if true,” emphasising that his conviction was limited to a single regulatory violation, not fraud. The former CEO has largely stayed out of controversy since his release, focusing instead on rebuilding his public image through education and entrepreneurship.
The Trump administration has shown leniency toward crypto-related offenders in the past, reportedly helping to secure clemency for figures like the BitMEX founders and Silk Road creator Ross Ulbricht. A potential pardon for Zhao would likely be seen as another signal of the administration’s friendlier approach toward the digital asset industry, contrasting with the stricter enforcement actions seen under previous leadership.
If granted, the pardon could mark a major turning point for both Zhao and Binance, potentially restoring the company’s standing in U.S. regulatory circles and strengthening ties between Washington and the global crypto market.
