Changpeng Zhao, co-founder of Binance
$19.91B
, may receive a presidential pardon, according to recent discussions in political circles.
Zhao had admitted in 2024 to a violation of US financial laws related to money laundering and served a brief prison sentence.
Journalist Charles Gasparino reported in a post on X that some individuals close to President Donald Trump saw the case as an overreaction and argued it did not warrant prison time or a felony conviction.
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These sources stated that President Trump is open to the idea of granting a pardon, which could possibly allow Zhao to become more active in Binance again.
Zhao acknowledged Gasparino’s report on X but did not say whether he had any direct information about a pardon being discussed. He clarified that no fraud was involved in his case.
He explained that he pleaded guilty to a single violation of the Banking Secrecy Act and emphasized that he has no criminal history and faced no other charges.
He also pointed out that, to his knowledge, he may be the only person to have received jail time for just one violation of that particular law, without any additional legal issues involved.
However, Gasparino stated that if the pardon goes forward, it could take time. The president is reportedly focused on more urgent matters, including efforts to help resolve international conflicts and negotiate trade policies with China.
Recently, Roger Ver was reportedly close to finalizing a deal with the US government that could help him avoid a prison sentence. How? Read the full story.
