₦airaland Forum

U.S. President Donald Trump has granted a presidential pardon to Binance founder Changpeng Zhao, widely known as CZ, who previously pleaded guilty to money-laundering-related charges while leading the world’s largest cryptocurrency exchange.

The White House, in a statement issued Thursday by Press Secretary Karoline Leavitt, said Trump’s decision was an exercise of his constitutional authority and described Zhao’s prosecution under the Biden administration as part of a “war on cryptocurrency.”

“In their desire to punish the crypto industry, the Biden Administration pursued Mr. Zhao despite no allegations of fraud or identifiable victims,” Leavitt stated.

The pardon comes just two months after The Wall Street Journal reported that the Trump family’s own crypto venture which has generated about $4.5 billion since the 2024 election was supported through a partnership with a trading platform linked to Binance.

Zhao had pleaded guilty in November 2023 to violating the Bank Secrecy Act and stepped down as Binance CEO as part of a $4.3 billion settlement with the U.S. Department of Justice. He was sentenced in April 2024 to four months in prison, though prosecutors had sought a three-year term.

Leavitt noted that the judge in Zhao’s case had described the government’s sentencing request as “unheard of in 30 years,” adding that the Biden administration’s actions “damaged America’s reputation as a leader in technology and innovation.”

“The Biden Administration’s war on crypto is over,” she declared.

RollinTNDA:
He should pardon Tinubu for Chicago drugs

PigTormentor:
Trump is more corrupt than any African president in history. This is a criminal family with Trump as the head of the organization criminal enterprise.

MarkNsukkaBread:
Face your own country and leave Americans to question their president if news be!

PigTormentor:
I'm facing my countries, I'm an American and a Nigerian.
See your life? Face your own life instead of wailing and crying on mine.

seunmsg:
This is a very good decision by Trump. The Biden administration’s conviction of CZ was simply an overkill. It was absolutely unnecessary. CZ took the bullet for both Binance and crypto in general to survive. Glad Trump has done the right thing to pardon him.

simeonabio:
Is Trump the former president or present president?