People close to Changpen Zhao, the former CEO of Binance, which is better known as ‘CZ’, says discussions intensify inside Trump The White House about whether to issue a presidential pardon for the Embated Crypto Director, according to reporting from
Zhao, once among the most influential figures in the digital active world, earned time after a plea for an agreement with the US Ministry of Justice in 2023, which included a money-releasing conviction and $ 4.3 billion in fines for Binance.
But according to several sources familiar with the case, many in Trump’s inner circle now see the case as politically motivated – a characteristic of what they describe as the Biden administration’s wider crash on crypto.
Zhao remains Binance’s largest individual shareholder, and a pardon could clear the way for his formal return to the exchange, which he founded in 2017 and grew out to the world’s largest bitcoin and crypto trading platform.
Speculation of a Trump wool has been threatening for most of this year, but the decision is coming soon.
CZ background
Zhao’s conviction 2023 marked one of the most profiled cases in the government’s campaign against major exchanges.
US prosecutors accused Binance of having allowed illegal transactions with sanctioned devices and failed to implement proper controlling controls. CZ pleaded guilty, stepped down as CEO and paid a personal fine of $ 50 million.
Zhao sentenced a four-month prison sentence. He was convicted in April 2024 and released in September 2024 after spending time in a federal prison with low security in California and then a half -way house.
Despite this, even critics of Binance have questioned whether the criminal charges were proportionate. Trump’s team reportedly sees Zhao’s situation as an opportunity to demonstrate a “new era” with cryptopolitics – one that favors innovation over punishment.
A decision could come before the end of the year, but Trump’s attention is shared between foreign policy flash points – including conflicts in Gaza, Ukraine and renewed merchant stresses with China – and that Klemency discussions often take longer than expected, according to Gasparino.
For now, Crypto World is watching closely. A Trump wool for CZ would not only mark a personal confirmation of Zhao, but also be something of a political statement: Trump signalizes that the world’s most powerful government is really open to Bitcoin business.