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US President Donald Trump Pardons Binance Founder Changpeng Zhao, Lifts Restrictions

US President Donald Trump Pardons Binance Founder Changpeng Zhao, Lifts Restrictions

The pardon lets Binance CEO Changpeng Zhao resume influence in crypto after the 2023 DOJ settlement.

Written by Rahul Dhingra, Edited by David Delima | Updated: 24 October 2025 15:21 IST

US President Donald Trump Pardons Binance Founder Changpeng Zhao, Lifts Restrictions

Photo Credit: Reuters

Changpeng Zhao expresses gratitude on X after Trump restores his ability to run crypto ventures

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Highlights

Binance hails pardon as “incredible news”
CZ pled guilty in 2023, served a four-month sentence
The pardon follows lobbying by Binance for relief

US President Donald Trump has pardoned Changpeng Zhao, widely known as CZ, the founder of Binance, following his 2023 guilty plea for enabling money laundering while leading the world's largest cryptocurrency exchange. The pardon, which comes amidst continuing controversy over the administration's stance on the cryptocurrency sector, removes earlier limitations that had stopped Zhao from operating financial businesses. Binance and CZ welcomed the decision, with the former calling it “incredible news” and highlighting CZ's role in shaping the broader crypto movement.

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Zhao was given a four-month prison sentence last year after stepping down as Binance CEO in 2023, as part of a $4.3 billion (roughly Rs. 3,77,000 crore) settlement with the Department of Justice. The plea addressed violations of the Bank Secrecy Act and the International Emergency Economic Powers Act, with prosecutors claiming Binance failed to implement an effective anti-money-laundering programme and knowingly allowed users to bypass US sanctions. At the time, former Treasury Secretary Janet Yellen said the platform's shortcomings made it possible for money to reach child abusers, cybercriminals, and terrorists.

CZ expressed his gratitude in a post on X (formerly Twitter). “Deeply grateful for today's pardon and to President Trump for upholding America's commitment to fairness, innovation, and justice. Will do everything we can to help make America the Capital of Crypto and advance Web3 worldwide.”

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Deeply grateful for today's pardon and to President Trump for upholding America's commitment to fairness, innovation, and justice.
:pray::pray::pray::pray:

Will do everything we can to help make America the Capital of Crypto and advance web3 worldwide.

(Still in flight, more posts to come.)…
— CZ :large_orange_diamond: BNB (@cz_binance) October 23, 2025

“Incredible news of CZ's pardon today! Thank you, President Trump, for your leadership and commitment to make the US the crypto capital of the world. CZ's vision not only made Binance the world's largest crypto exchange but shaped the broader crypto movement,” the exchange stated in a post on X.

In September, a public disclosure filing revealed that Binance had retained lobbyist Charles McDowell, a friend of Donald Trump Jr., to advocate with the White House and Treasury Department for “executive relief” and policy matters relating to digital assets.

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The US President previously granted a pardon to Ross Ulbricht, the creator of Silk Road, the dark web marketplace used for the illegal drug trade, and the founders of BitMex, who were previously accused of money laundering. These actions could lead to reshaping the regulatory environment for cryptocurrency in the US.

White House Press Secretary Karoline Leavitt framed the pardon as correcting what the administration saw as overreach by the previous administration. “This was an overly prosecuted case by the Biden administration,” she said, adding that the pardon was exercised after thorough review.

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It is anticipated that CZ's return to operational independence will allow him to continue influencing Binance's strategy and participating in the larger Web3 and cryptocurrency world.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

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Further reading: Binance CEO Changpeng Zhao, Donald Trump, crypto regulation

Rahul Dhingra

Email Rahul Dhingra

Rahul Dhingra is a crypto writer at Gadgets 360, where he covers the exciting world of Cryptocurrency, Blockchain, Defi and Web3. Before joining Gadgets 360, he worked as a content specialist for a European-based Crypto Exchange. Rahul loves storytelling, not just through the written word but also through the visual medium. Beyond his professional life, Rahul is a sports fanatic. Whether it’s cricket or football, his passion for the game is contagious. More