Author: Martin

According to multiple media reports, former U.S. President Trump has approved a pardon for Binance founder Changpeng Zhao (CZ). This decision, stemming from various sources in June 2025, marks a potential fundamental shift in the legal situation of this cryptocurrency mogul.

Changpeng Zhao reached a plea agreement with U.S. authorities in November 2023, admitting to violations of anti-money laundering laws and resigning as CEO of Binance. He served four months in prison in the U.S. in 2024 and paid a personal fine of $50 million, while Binance paid fines of up to $4.3 billion.

In May of this year, Zhao announced that he had formally applied for a pardon from the Trump administration, emphasizing that he began considering the presidential pardon only after seeing "false reports" in the media.

Previously, Trump had pardoned several figures in the cryptocurrency field, including the three co-founders of BitMEX and Ross Ulbricht, the founder of Silk Road.

For Zhao, a pardon means the lifting of legal restrictions. Although he has completed his sentence, a presidential pardon could restore some rights, potentially paving the way for his return to Binance's management.

However, according to Zhao's previous plea agreement with the U.S. government, there is a clause that permanently prohibits him from operating or managing Binance. Even with a pardon, it remains uncertain whether he can return to Binance.

Zhao remains the majority shareholder of Binance, holding most of the equity. In 2024, his personal wealth increased by 90 billion yuan, and the Bloomberg Billionaires Index shows that Zhao's current personal wealth stands at $5.07 billion. He has over 10 million followers on the social platform X, which is 4.27 million more than Ethereum founder Vitalik Buterin.

The Trump administration's lenient stance on cryptocurrency has already led the U.S. Securities and Exchange Commission (SEC) to withdraw lawsuits against several cryptocurrency companies, including Binance. For the entire cryptocurrency industry, Zhao's pardon would be another symbolic event reflecting the Trump administration's pro-crypto policies.

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