‘War on Crypto Is Over’: Donald Trump Pardons Binance Founder CZ
US president Donald Trump has pardoned Changpeng Zhao, founder of the world’s largest crypto exchange, Binance.
Zhao, widely known as CZ, pleaded guilty in November 2023 to violating anti-money-laundering laws and US sanctions. The plea formed part of a sweeping deal with the US Department of Justice, under which Binance was required to pay a record-breaking $4.3 billion penalty.
Zhao ultimately spent four months in federal prison. The DOJ had originally petitioned for a three-year prison sentence.
After issuing the pardon, the White House has cast Zhao as the victim of a plot to trample the crypto industry carried out by the administration of former president Joe Biden. Regulators brought a volley of lawsuits against high-profile…
