President Donald Trump has granted a full pardon to Changpeng Zhao, the founder and CEO of Binance, the world’s largest cryptocurrency exchange. Zhao had previously pleaded guilty to violating U.S. anti-money laundering laws in 2023. He served a short prison sentence, and Binance paid a $4.3 billion settlement to the U.S. Department of Justice.
The pardon removes any remaining legal consequences for Zhao in the United States. The White House described the decision as a step toward supporting cryptocurrency innovation, framing it in the context of regulatory challenges faced by the industry.
The move has sparked debate, with critics warning that it could weaken oversight of the crypto sector, while supporters argue it encourages growth and technological advancement. Zhao expressed gratitude for the pardon and reiterated his commitment to promoting responsible practices in cryptocurrency.
Following the announcement, Binance’s native token, BNB, saw a noticeable increase in value, reflecting renewed investor confidence.
The pardon highlights the growing intersection of politics and cryptocurrency and raises questions about balancing regulatory enforcement with fostering innovation in the rapidly evolving digital finance landscape.
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