Changpeng Zhao, the founder of Binance, which is the world’s largest cryptocurrency exchange by trading volume, was suddenly pardoned by President Donald Trump.
In September 2024, Zhao finished a four-month prison sentence after admitting to money laundering charges that were linked to Binance’s compliance problems.
After that sentence, this choice was made. The exchange has legal concerns because it didn’t have enough ways to stop money laundering.
People are curious about if the Trump family and Binance might work together in business, and the pardon comes at a time when this is on their minds. This could help Zhao win his job back as leader of the exchange.
This is essential since Binance has had big legal problems in the past, including when they had to pay U.S. regulators $4.3 billion in November 2023 to settle a case. Richard Teng became the new CEO after Zhao stepped down because to legal problems.
