US President Donald Trump pardoned The owner of a controlling stake in Binance, the world’s largest crypto exchange by trading volume, Changpeng Zhao. The Wall Street Journal has learned that the presidential decree on pardon was signed on October 22.
White House spokeswoman Caroline Leavitt said Trump pardoned Zhao “using his constitutional powers.” Leavitt stated that the war unleashed by the previous president Joe Biden against cryptocurrencies is over.
On April 30, 2024, U.S. District Judge Richard Jones sentenced Changpeng Zhao to four months in prison, finding him guilty of violating U.S. anti-money laundering laws.According to the US Department of Justice, Binance’s management was aware of transactions related to terrorist financing and other illegal activities, but the platform did not inform law enforcement authorities about this.
As part of a deal with the authorities, Zhao pleaded guilty and resigned as CEO of Binance. Zhao paid a $50 million fine, and Binance also paid more than $4.3 billion in fines as part of the agreement. Zhao was released on September 27, 2024.
Earlier, Changpeng Zhao said that the crypto industry has undergone a radical transformation in the year since his release from prison in the United States.
