U.S. President Donald Trump has pardoned Binance founder Changpeng “CZ” Zhao, closing a major chapter in the U.S. government’s crackdown on crypto.
Zhao had served four months in prison in 2024 after pleading guilty to Bank Secrecy Act violations. Binance had earlier paid a record $4.3 billion fine and agreed to a compliance monitor.
White House Press Secretary Karoline Leavitt said the Biden administration’s actions “damaged the U.S.’s reputation as a tech leader.” Trump said the pardon came after “many recommendations,” signaling a softer stance toward crypto.
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