US President Donald Trump on Thursday pardoned Binance founder and former CEO Changpeng Zhao, who spent four months in prison after pleading guilty in 2023 to violating US money laundering regulations, The Wall Street Journal reported.
The pardon follows extensive lobbying by Zhao and Binance, which has boosted Trump family crypto interests by billions of dollars. The company had faced difficulties in securing regulatory licenses and opening accounts around the world stemming from Zhao’s conviction. Trump’s pardon will “pave the way” for the world’s largest crypto exchange to resume US operations, the Journal wrote.
Trump has pardoned several other crypto executives, the Financial Times noted, including Silk Road founder Ross Ulbricht and employees of the BITMEX exchange.