Binance has confirmed that its founder, Changpeng “CZ” Zhao, has received a presidential pardon from U.S. President Donald Trump, according to a report by The Wall Street Journal. The decision, signed on Wednesday, effectively clears the way for Zhao’s potential return to the exchange he built into the world’s largest cryptocurrency platform.
Although the White House has not yet published the pardon on its official website or in the Federal Register, sources familiar with the matter told the Journal that the move was finalised this week. Binance later confirmed the news to Cointelegraph, describing it as a “historic moment” for both the company and the wider crypto community.
“Incredible news of CZ’s pardon today. We thank President Trump for his leadership and for his commitment to make the U.S. the crypto capital of the world,” Binance said in a statement. “CZ’s vision not only made Binance the world’s largest crypto exchange but also shaped the broader crypto movement.”
Zhao’s legal troubles began in November 2023, when he pleaded guilty to failing to maintain a sufficient anti-money-laundering program at Binance, a violation of the U.S. Bank Secrecy Act. The plea deal required him to step down as CEO, and in April 2024, he was sentenced to four months in prison. After completing his sentence, Zhao was released in September 2024.
Speculation around a potential pardon had been growing in recent weeks. Betting markets saw increasing odds of clemency after Zhao removed the “ex-@binance” label from his social media profile, a move that many interpreted as a signal of his anticipated comeback. Reports from Fox News correspondent Charles Gasparino earlier this month suggested that Trump was “leaning toward a pardon,” citing mounting support from both industry figures and political allies.
The presidential pardon could pave the way for Zhao’s formal return to Binance’s leadership, an option previously prohibited under the terms of his plea deal. As Binance’s largest shareholder, his re-emergence could significantly influence the company’s direction amid ongoing regulatory realignments in global crypto markets.
This is not the first time President Trump has extended clemency to prominent figures in the digital-asset space. He has previously pardoned BitMEX co-founders Arthur Hayes, Ben Delo, and Samuel Reed, as well as Silk Road creator Ross Ulbricht, who had been serving a life sentence.
With Zhao’s pardon, the crypto industry finds itself at another pivotal moment—one that could redefine the balance between political power, financial innovation, and regulatory oversight in the United States.
