Trump Pardons Binance Founder CZ

President Donald Trump pardoned Binance founder Changpeng “CZ” Zhao, who pleaded guilty in 2023 to U.S. anti‑money‑laundering violations and served about four months in prison. Under a civil settlement, Binance agreed to roughly $4.3 billion and Zhao paid $50 million in penalties, and regulators said the exchange had failed to stop transactions tied to child sex abuse, drug trafficking and terrorism. The White House framed the pardon as ending the Biden administration’s “war on crypto,” and Trump said he acted at the request of “a lot of very good people” while denying a personal relationship with Zhao. The decision provoked sharp backlash, including from Sen. Elizabeth Warren, amid reports of financial ties between Zhao, Binance and Trump‑linked crypto projects and accusations the pardon reflects political corruption. Zhao thanked Trump, pledged to help make the U.S. “the Capital of Crypto,” and markets rallied, with Binance’s token and related crypto assets rising. Analysts say the clemency could help pave the way for Binance’s return to the U.S. after it suspended American operations under the settlement, while critics warn of broader political and regulatory implications.