The U.S. crypto sector is experiencing renewed political and regulatory attention after a high-profile presidential pardon reignited debate about fairness and innovation in digital finance. Cryptocurrency exchange operator Binance founder Changpeng Zhao (CZ) spoke out on Oct. 23 on social media platform X about his pardon from President Donald Trump, a move that has drawn mixed reactions in Washington D.C. and across the digital asset community.

The move is being seen as a defining moment for crypto’s place in U.S. economic leadership and its relationship with government oversight. CZ stated:

Deeply grateful for today’s pardon and to President Trump for upholding America’s commitment to fairness, innovation, and justice. Will do everything we can to help make America the Capital of Crypto and advance web3 worldwide.

Reflecting on his experience, he added: “Overall, I think I have always been lucky. It (the process) was extremely painful, but it didn’t break me. My official record was tarnished for a bit, but my reputation held strong. No one, not a single person, stopped doing business with me. My family, friends and community supported me. I was never alone. Thank you for your support! Let’s keep building.”

Supporters, including Ella Zhang, head of YZi Labs, said: “CZ deserves a pardon. His attention and efforts are all about improve humanity and help more people.” Tech entrepreneur Balaji Srinivasan opined: “CZ deserves his pardon. His show trial of a prosecution was a combination of regulatory railroading and ethnic persecution for being Chinese-Canadian. Imagine if Macron was held personally responsible for every crime committed by the 67M citizens of France, and you’ll get the absurdity of holding CZ personally responsible for the actions of a few of the 250M+ Binance users.” Cardano founder Charles Hoskinson stated: “Congratulations to my friend CZ. Trump has corrected a grave injustice.” He further shared:

The weaponization of the justice department against our industry and its entrepreneurs should have never happened. It was and still is a deep wound that will take a long time to heal.

However, criticism from a lawmaker came swiftly. Senator Elizabeth Warren claimed: “CZ pleaded guilty to a criminal money laundering charge and was sentenced to prison. But then he financed President Trump’s stablecoin and lobbied for a pardon. Today, he got it. If Congress does not stop this kind of corruption, it owns it.” Her post on X was quickly annotated by community notes, clarifying that Zhao “pleaded guilty to violating the Bank Secrecy Act for failing to implement an effective anti-money-laundering program” and that he “did not plead guilty to money laundering.”

CZ responded directly: “A U.S. senator can’t get her facts right, in a public post about a person’s charge. There were NO money laundering charges. The same senator declared ‘war on crypto,’ on public TV, 5 days before my sentencing, during the Biden Admin. Need a better example of weaponization of ‘Biden’s DOJ’ against crypto?” Crypto analyst Scott Melker also defended Zhao, writing: “Shame on you, senator. CZ did not plead guilty to money laundering. He pleaded guilty for causing Binance to violate the Bank Secrecy Act (BSA) by failing to implement an effective anti-money-laundering program. Ocean of difference between the two.”

• What impact does CZ’s pardon have on the crypto industry?
  It signals a potential shift toward more favorable political treatment of crypto, possibly paving the way for looser regulation and renewed investor confidence.
• Why are lawmakers upset about the CZ pardon?
  Critics argue the pardon undermines legal accountability and reflects political favoritism in exchange for financial or ideological support.
• Did CZ admit to money laundering charges?
  No, he pleaded guilty to compliance failures under the Bank Secrecy Act, not to money laundering itself.
• Could this event influence future crypto policy?
  Yes, it could deepen the divide between pro-crypto and anti-crypto factions in Washington, shaping future legislation and enforcement strategy.

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