"War On Crypto Is Over": Trump Pardons Former Binance CEO Changpeng Zhao

Rumors circulated that the White House was considering pardoning Changpeng Zhao, the former Binance CEO. The Wall Street Journal reports that Trump pardoned CZ after efforts to boost the Trump family's crypto company. Zhao served a four-month sentence after a plea deal, including a money-laundering conviction. Binance faced accusations of enabling illicit transactions and lacking anti-money-laundering controls. CZ pleaded guilty, resigned as CEO, and paid a personal fine. The pardon reportedly aims to signal a "new era" of crypto policy favoring innovation. Trump's team viewed the case as politically motivated, part of the Biden administration's crackdown. The White House said Trump exercised his authority, declaring the end of the "war on crypto." Binance supported Trump's family's crypto venture. The pardon could allow Zhao's return to Binance and signals the government's openness to Bitcoin.