U.S. President Donald Trump has officially pardoned Binance founder Changpeng “CZ” Zhao, according to a report from The Wall Street Journal citing individuals familiar with the situation. The decision follows months of behind-the-scenes lobbying and legal appeals from Zhao’s team and Binance representatives.
Sources say Trump signed the pardon on Wednesday, though an official statement has not yet appeared on the White House website or in the Federal Register, where presidential pardons are normally documented.
Zhao, who pleaded guilty in November 2023 to failing to implement a proper Anti-Money Laundering (AML) program at Binance — a violation of the U.S. Bank Secrecy Act — had agreed to resign as CEO as part of his plea deal. In April 2024, he was sentenced to four months in prison and was released in September.
Rising speculation around CZ’s pardon
Rumors of a potential pardon had been circulating for several weeks. Betting markets began to reflect growing confidence in September after Zhao quietly removed the “ex-@binance” label from his social media bio — a detail that many interpreted as a signal of his possible return.
Reports from the New York Post and Fox News journalist Charles Gasparino earlier this month added fuel to the speculation. Gasparino claimed Trump was “strongly considering a pardon,” a move that could pave the way for CZ’s comeback at Binance, where he remains the company’s largest shareholder.
If reinstated, the pardon could allow Zhao to rejoin Binance in an executive capacity — something his prior plea arrangement prohibited.
This would not mark the first time President Trump has shown leniency toward figures in the crypto world. During his term, he has already pardoned the three BitMEX co-founders, including Arthur Hayes, as well as Silk Road creator Ross Ulbricht, who had been serving two life sentences plus an additional 40 years.
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