Donald Trump May Soon Pardon Binance Founder Changpeng ‘CZ’ Zhao

Donald Trump is reportedly XEM a presidential pardon for Binance founder Changpeng “CZ” Zhao.

Senior aides are reportedly Chia on the move, according to White House rumors, with debate about the potential backlash from regulators and lawmakers who see CZ’s conviction as a case in point for financial crime enforcement.

CZ's Legal History and Sentencing

If granted, the pardon would wipe out Zhao's federal conviction even though he has already served his sentence.

Zhao, the former CEO of Binance, pleaded guilty in 2023 to violating the Bank Secrecy Act by failing to maintain an adequate anti-money laundering program.

The US Department of Justice accused Binance of allowing transactions to bypass sanctions and compliance controls.

As part of the settlement, Zhao resigned as CEO , paid a $50 million fine, and served four months in federal prison . Binance also paid a $4.3 billion fine, one of the largest in U.S. corporate history.

Zhao was released in mid-2024 and has since been outside the US, barred from holding any executive Vai at Binance.

What the amnesty means for CZ

A presidential pardon does not reverse the factual basis of the conviction but does erase the legal and civil consequences.

For Zhao, that means having his criminal record expunged, his ability to do business in the US restored and restrictions on federal background checks lifted.

Despite completing his sentence, the sentence still restricts his access to US financial institutions, visas and corporate director positions.

An amnesty would symbolically and legally restore his status, making him eligible for regulatory approvals on future projects.

Could CZ Return to Binance?

Despite the potential pardon, Zhao will still be bound by separate regulatory agreements reached with the US government, which prohibit him from holding any managerial or executive Vai at Binance for several years.

However, an expunged criminal record could allow him to re-enter the US financial and cryptocurrency markets as an investor, advisor, or founder of new projects.

This will also open up opportunities for collaboration previously blocked by compliance barriers.

However, his reappointment at Binance will likely trigger renewed scrutiny from US regulators and global partners, given ongoing concerns about the exchange’s compliance practices.

No official decision has been made yet, but the possibility of pardoning one of the most famous names in the cryptocurrency space has sparked heated debate.