Crypto giants moved billions linked to money launderers, drug traffickers and North Korean hackers
When President Donald Trump pardoned Changpeng “CZ” Zhao in October, the White House press secretary painted the founder of the world’s largest cryptocurrency exchange as the victim of a political witch hunt. “The Biden administration’s war on crypto is over,” declared Karoline Leavitt.
Zhao and his company, Binance, had both pleaded guilty in November 2023 to operating without basic safeguards to prevent money laundering. Authorities alleged that they authorized transactions bound for “terrorists, cybercriminals and child abusers.”
Zhao agreed to step down as CEO, and the company pledged to change its ways.
It did not.
Between the guilty pleas and Zhao’s pardon, Binance continued to profit from hundreds…
