Changpeng Zhao pleaded guilty to failing to stop money laundering in 2023 and was sentenced to four months
Donald Trump issued a pardon for the founder of the world’s largest cryptocurrency exchange Thursday.
“President Trump exercised his constitutional authority by issuing a pardon for Mr. Zhao, who was prosecuted by the Biden Administration in their war on cryptocurrency,” a White House statement said. “The war on crypto is over.”
Changpeng Zhao pleaded guilty in late 2023 to one count of failing to maintain an anti-money laundering program and stepped down as CEO of Binance, which paid $4.3bn to settle related allegations. He was sentenced to four months in prison.
Zhao, who is often referred to by his initials CZ, is one of the world’s richest people and biggest names in cryptocurrency. He built Binance into the world’s largest cryptocurrency exchange, although the company has been barred from operating in the US after his 2023 guilty plea.
