The presidential move clears the path for CZ’s possible return to Binance leadership
In a dramatic turn of events for the crypto industry, U.S. President Donald Trump has officially pardoned Changpeng “CZ” Zhao, the founder and former chief executive of Binance, according to reports from people familiar with the matter.
The presidential pardon, reportedly signed on Wednesday, effectively clears Zhao’s criminal record stemming from his 2023 conviction for violating the Bank Secrecy Act and failing to implement sufficient Anti-Money Laundering (AML) controls at Binance.
Although no official announcement has yet appeared on the White House website or in the Federal Register, insiders have confirmed that the pardon document has been executed, marking a major milestone in Zhao’s ongoing legal saga.
From conviction to clemency
Zhao pleaded guilty in November 2023 as part of a plea deal that required him to step down as Binance’s CEO. In April 2024, he was sentenced to four months in U.S. federal prison, later released in September 2024.
The pardon now removes the legal barriers that had previously restricted him from holding an executive position at the world’s largest cryptocurrency exchange.
“This decision could set the stage for CZ’s formal return to Binance,” noted a senior crypto market analyst, adding that the move “signals a shift in Washington’s tone toward digital asset entrepreneurs.”
Speculation turns into reality
For weeks, rumors of a potential Trump pardon circulated across crypto forums and betting markets. Observers pointed to Zhao’s recent decision to remove the “ex-@binance” label from his social media profile — a subtle hint that many interpreted as a signal of reconciliation.
Zhao remains Binance’s largest shareholder, and a return to the exchange could significantly impact its strategic direction amid expanding U.S. oversight of the crypto sector.
This latest pardon follows a series of similar acts by President Trump, who previously granted clemency to BitMEX founders and Silk Road creator Ross Ulbricht.
With Zhao’s name now cleared, Binance could face a new chapter under its original founder, underscoring how political developments in Washington continue to reshape the global crypto landscape.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.