Trump White House Could Soon Pardon Former Binance CEO Changpeng Zhao: Report

Authored by Micah Zimmerman via BitcoinMagazine.com,

People close to Changpeng Zhao, the former CEO of Binance better known as ‘CZ,’ say discussions are intensifying inside the Trump White House over whether to issue a presidential pardon for the embattled crypto executive, according to reporting from Charles Gasparino, a Senior Correspondent at FOX Business. 

Zhao, once among the most influential figures in the digital asset world, served time following a plea deal with the U.S. Department of Justice in 2023 that included a money-laundering conviction and $4.3 billion in fines for Binance. 

But according to several sources familiar with the matter, many within Trump’s inner circle now view the case as politically motivated — a hallmark of what they describe as the Biden administration’s broader crackdown on crypto.

Zhao remains Binance’s largest individual shareholder, and a pardon could clear the way for his formal return to the exchange, which he founded in 2017 and grew into the world’s largest Bitcoin and crypto trading platform.

Speculation of a Trump pardon has been looming for most of this year, but the decision is reportedly coming soon.

CZ background

Zhao’s 2023 conviction marked one of the most high-profile cases in the government’s campaign against major exchanges. 

U.S. prosecutors accused Binance of allowing illicit transactions with sanctioned entities and failing to implement proper anti-money-laundering controls. CZ pleaded guilty, stepped down as CEO, and paid a personal fine of $50 million.

Zhao served a four-month prison sentence. He was sentenced in April 2024 and released in September 2024, after spending time in a low-security federal prison in California and then a halfway house.

Despite this, even critics of Binance have questioned whether the criminal charges were proportionate. Trump’s team reportedly sees Zhao’s situation as an opportunity to demonstrate a “new era” of crypto policy — one that favors innovation over punishment.

A decision could come before year’s end, but Trump’s attention is divided between foreign policy flashpoints — including conflicts in Gaza, Ukraine, and renewed trade tensions with China — and that clemency discussions often take longer than expected, according to Gasparino.

For now, the crypto world is watching closely.

A Trump pardon for CZ would mark not only a personal vindication for Zhao, but also be somewhat of a political statement: Trump signaling that the world’s most powerful government is truly open for Bitcoin business.