Donald Trump pardoned Changpeng Zhao, the former director of Binance, convicted of money laundering. The pardon allows him to return to business.

American President Donald Trump has decided to grant clemency to Changpeng Zhao, the former CEO of the cryptocurrency platform Binance, who was sentenced in April 2024 for violating anti-money laundering legislation. Although Zhao has already served his sentence and was released in September 2024, the clemency will allow him to return to cryptocurrency business. White House spokesperson Karoline Leavitt justified the decision by citing the political persecution Zhao suffered from the administration of former Democratic President Joe Biden.

Zhao benefited from a reduced sentence following a plea agreement, paying a fine of 50 million dollars. Binance was accused of violating U.S. legislation, and Zhao resigned as CEO as part of a deal with the U.S. government, paying fines of approximately 4.3 billion dollars. Although he was removed from the company, Zhao remains a majority shareholder and has supported the cryptocurrency company World Liberty Financial, founded by Trump's family.