- Donald Trump is reportedly considering a pardon for Binance founder Changpeng Zhao (CZ).
- CZ requested the pardon in May, as confirmed by himself and sources in the White House.
- The possible pardon follows CZ’s conviction and four-month prison sentence related to anti-money laundering violations, with Binance paying a $4 billion fine.
- Trump has previously pardoned other crypto industry figures, making a pardon for CZ possible.
- The potential pardon could further impact Binance Coin (BNB), which has seen record-high prices and increased activity.
Donald Trump is actively considering a pardon for Binance founder Changpeng Zhao (CZ), according to a report from Fox Business. White House discussions regarding this decision have intensified, and CZ confirmed he requested the pardon from Trump in May.
According to Fox Business Senior Correspondent Charles Gasparino, there is debate inside the White House about granting CZ a pardon. Gasparino stated in a post on X that some see CZ’s conviction as excessive. “Changpeng Zhao, known in the digital space simply as CZ, was pretty weak, and certainly not something that merited a felony conviction and jail time,” Gasparino wrote.
Binance and Zhao faced criminal charges from the U.S. Department of Justice in late 2023. As CEO at the time, Zhao pleaded guilty to anti-money laundering violations. This resulted in Binance paying a fine of $4 billion and Zhao receiving a four-month prison sentence.
There is a split within Trump’s team over the potential pardon, with considerations about how it may appear given Trump’s previous support for the cryptocurrency industry. Trump has already pardoned other crypto exchange founders, such as those from Bitmex. If granted, the pardon could open the door for CZ to return to his company, where he remains the largest shareholder.
Meanwhile, Binance Coin (BNB) has reached record high prices. CZ’s net worth was recently estimated at $87 billion. Increased activity on the Binance Smart Chain, which powers DeFi (decentralized finance) and NFTs (non-fungible tokens), has led to a rise in daily users and more transactions, with all network fees paid in BNB. A potential pardon for CZ could further influence the BNB market.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
Previous Articles:
- Crypto Markets Rattle as $490M Liquidated Amid US-China Trade Tensions
- Alleged Rug Puller Nets $430K After CZ Signals SCI6900 Token
- Strategy’s Bitcoin Holdings Near Big Tech Cash as BTC Hits Record
- Morgan Stanley Opens Crypto Investments to All Clients, Accounts
- AstraZeneca Nears Landmark Drug Price Deal With Trump: Report
