Binance Verifies Trump Granted Presidential Pardon To CZ

US President Donald Trump has granted clemency to convicted Binance founder Changpeng “CZ” Zhao, following months of advocacy and requests from the company and its former CEO, The Wall Street Journal reported Thursday, citing sources familiar with the matter.

President Trump executed the pardon on Wednesday, the sources said, though no official information has been released on the White House website or in the Federal Register, where presidential pardons are customarily announced. The information was subsequently verified by Binance.

Zhao entered a guilty plea in November 2023 to one charge of failing to establish a sufficient Anti-Money Laundering (AML) programme at Binance, breaching the Bank Secrecy Act. As part of his plea, Zhao consented to resign from his position at Binance.

In April 2024, Zhao was handed a four-month sentence in a US prison. He was later discharged from custody in September.

Binance validated the presidential pardon to Cointelegraph, providing the following statement:

“Incredible news of CZ’s pardon today. We thank President Trump for his leadership and for his commitment to make the US the crypto capital of the world. CZ’s vision not only made Binance the world’s largest crypto exchange but shaped the broader crypto movement.”

Speculation regarding a potential pardon for Zhao has been building for weeks. Betting markets in September indicated increasing odds after the Binance founder discreetly deleted the “ex-@binance” tag from his social media profile – a designation he had incorporated following his plea arrangement.

A presidential pardon could permit Zhao to resume an executive position at Binance – an opportunity that had previously been unavailable under his plea agreement.

Nevertheless, Zhao wouldn’t be the first prominent crypto figure to receive clemency from President Trump. Since assuming office, Trump has pardoned the three BitMEX co-founders, including Arthur Hayes, as well as Silk Road founder Ross Ulbricht, who had been serving two life sentences plus 40 years.