US President Donald Trump has pardoned the convicted Binance co-founder Changpeng “CZ” Zhao, the White House said Thursday, accusing Trump’s predecessor Joe Biden of launching an unnecessary “war” against the industry.
Following an investigation into the firm’s operations, Zhao pleaded guilty to violating US anti-money-laundering laws in late 2023 and served a four-month prison sentence for it in 2024.
Zhao’s pardon wipes his criminal record and could help pave the way to return to the United States, around two years after it agreed to suspend its American operations in a deal to resolve the Department of Justice’s criminal investigation.