Trump once again shows goodwill to the crypto community, issuing a pardon for Binance founder Zhao Changpeng.

```

Binance co-founder Changpeng Zhao has been granted a pardon by U.S. President Trump after being imprisoned for failing to properly prevent money laundering activities at the world’s largest cryptocurrency exchange.

On Thursday local time, White House spokesperson Karoline Leavitt stated:

President Trump, exercising his constitutional authority, has issued a pardon for Mr. Zhao. He was one of the individuals prosecuted by the Biden administration in the so-called cryptocurrency wars.

This move marks the White House’s latest act of clemency toward a crypto industry entrepreneur, highlighting the Trump administration’s stance of positioning itself as a friend to the crypto industry.

Changpeng Zhao served a four-month sentence in 2024 after admitting that Binance had failed to implement sufficient anti-money laundering measures. This plea was part of a broader agreement with the U.S. government, which included a $4.3 billion settlement from Binance.

According to previous allegations by the U.S. government, Binance processed at least 1.1 million transactions in violation of U.S. sanctions from 2018 to 2022, involving about $898 million.

As part of the 2023 plea deal, Zhao was forced to resign as Binance CEO but retained controlling ownership of the company. After Trump won the presidential election, Binance’s valuation surged. According to the Bloomberg Billionaires Index, Zhao’s net worth reached $54.5 billion.

The cryptocurrency associated with Binance—Binance Coin (BNB) surged following the news of Zhao’s pardon.

Trump’s Crypto Moves

Media reports previously indicated that one of the Trump family’s crypto projects—World Liberty Financial Inc.—had discussed potential cooperation with Binance. After Zhao was released by U.S. authorities, he met with World Liberty co-founder Steve Witkoff and the President’s Middle East envoy.

Trump has repeatedly used his presidential pardon power to overturn some crypto enforcement cases from previous administrations. He previously pardoned Silk Road founder Ross Ulbricht, who had been sentenced to life for facilitating criminal activities on the dark web market. Trump also pardoned the founders of crypto exchange BitMEX.

In early April this year, the U.S. Department of Justice disbanded its “National Cryptocurrency Enforcement Team” and announced it would terminate crypto investigation cases inconsistent with the current administration’s policy direction. These moves indicate that the Trump administration is focusing on relaxing regulatory enforcement on the cryptocurrency industry, particularly regarding exchanges, mixing services, and wallet providers.

Risk Disclaimer and Exemption ClauseMarkets involve risks, and investments should be made cautiously. This article does not constitute personal investment advice and does not consider the specific investment goals, financial situation, or needs of individual users. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investments made accordingly are at your own risk. ```