Donald Trump Reportedly Pardons Binance Founder Changpeng “CZ” Zhao

Former Binance CEO Changpeng “CZ” Zhao has reportedly received a presidential pardon from Donald Trump, which officially erases his federal conviction under the Bank Secrecy Act from 2023. Although Zhao had already served a four-month federal prison sentence and paid a $50 million fine, the pardon removes associated legal disabilities, allowing him to re-enter the US without felon restrictions, apply for business licenses, and restore his civil rights. The conviction stemmed from Binance failing to maintain an adequate anti-money-laundering (AML) program, leading to a $4.3 billion corporate penalty for the exchange. While the pardon rehabilitates Zhao's global finance status, his immediate return to an executive role at Binance is unlikely due to separate provisions in the company's 2023 plea deal that restrict his involvement for several years.

(Source：BeInCrypto)