Sources referred to by Fox Business reporter Charles Gasparino say Trump insiders view the case as weak, and a pardon could allow Zhao to return to Binance. While Zhao confirmed he applied for a pardon, he explained that he was never charged with fraud. The decision, however, could be complicated by Trump’s own ties to the crypto sector through ventures like World Liberty Financial and the TRUMP meme coin.
CZ Could Receive Trump Pardon
The Trump administration is reportedly considering a pardon for Binance co-founder Changpeng “CZ” Zhao, who pleaded guilty to a money laundering violation in 2024 and served four months in prison. According to Fox Business correspondent Charles Gasparino, sources close to Zhao claim that Trump insiders see the case as weak and undeserving of a felony conviction or jail time. Gasparino even suggested that a pardon could pave the way for Zhao’s return to Binance, where he is still the largest shareholder.
Under the Trump administration, the White House adopted a much friendlier stance toward the crypto industry. It already moved to end long-running enforcement actions, advanced new regulatory frameworks, and issued pardons to people like BitMEX founder Arthur Hayes and his colleagues, as well as Silk Road founder Ross Ulbricht.
Zhao acknowledged Gasparino’s report on X but stopped short of confirming any direct knowledge of a potential pardon. In his response, he also clarified that he was not charged with fraud, but instead pleaded guilty to a single violation of the Banking Secrecy Act — a rare instance that he claims made him the only person in US history to receive a prison sentence for such a charge without any prior offenses.
Zhao’s conviction came after Binance reached a $4.3 billion settlement with US authorities in November of 2023. As part of the agreement, Zhao paid a $50 million fine, resigned as CEO, and was barred from working for the exchange.
Gasparino said that while a decision on the pardon could be announced soon, some officials in the White House are concerned about how it might look given President Trump’s own connections to the crypto sector. Trump and his family previously faced scrutiny for their involvement in digital asset ventures, including the World Liberty Financial protocol and the TRUMP meme coin.
The columnist added that the situation is still fluid, as the president is currently occupied with other high-priority matters, including the conflicts in Gaza and Ukraine, and trade talks with China.
Source: https://coinpaper.com/11535/trump-reportedly-leaning-toward-pardon-for-binance-s-cz