Trump Pardons Binance Founder Changpeng Zhao

BlockBeats News, October 23rd, according to The Wall Street Journal, U.S. President Trump has pardoned the founder of the Binance cryptocurrency exchange, CZ. CZ has been actively supporting cryptocurrency companies affiliated with the Trump family for months. Sources familiar with the matter stated that the President signed the pardon on Wednesday and recently expressed his sympathy for the political persecution rhetoric surrounding CZ and others.

CZ was previously convicted for failing to implement effective anti-money laundering (AML) procedures and was charged with violating the U.S. Bank Secrecy Act. On November 21, 2023, CZ admitted that Binance had failed to implement adequate anti-money laundering procedures, resigned from the CEO position, and Binance agreed to pay a fine of over $4 billion. On April 30, 2024, CZ was sentenced to 4 months in prison. CZ has completed his sentence as scheduled and was released on September 27, 2024.