12 hours ago
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United States President Donald Trump has officially pardoned Binance founder Changpeng “CZ” Zhao.
DAILY POST reports that Zhao had previously pleaded guilty to charges related to enabling money laundering through the world’s largest cryptocurrency exchange.
He was prosecuted by former President Joe Biden’s administration in their war on cryptocurrency.
The White House announced Thursday announced that “ Trump exercised his constitutional authority by issuing a pardon for Zhao.
Zhao’s conviction stemmed from a high-profile case, which accused Binance of failing to maintain adequate anti-money-laundering controls.
Zhao’s legal troubles had become a major flashpoint in the broader debate over cryptocurrency regulation in the United States.
The pardon marks a significant moment in Trump’s renewed push to position himself as a pro-crypto leader, frequently criticizing the Biden administration’s approach as overly aggressive and stifling to innovation.
