President Donald Trump has pardoned Binance founder Changpeng Zhao, the White House said. Zhao pleaded guilty to federal money laundering charges in 2023 and he was sentenced last year to four months in prison. He was released in September 2024.
As part of his plea deal, Zhao stepped down as CEO of Binance and he was banned from having any involvement with the company for three years. Both Zhao and Binance reportedly submitted formal applications for pardons by August this year.
Trump “exercised his constitutional authority by issuing a pardon for Mr. Zhao, who was prosecuted by the Biden Administration in their war on cryptocurrency,” White House press secretary Karoline Leavitt
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