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Binance Founder CZ Applies for Trump Pardon After Denying Reports

Coin WorldWednesday, May 7, 2025 8:10 pm ET

1min read

Binance founder Changpeng Zhao, also known as CZ, has revealed that he applied for a pardon from former US President Donald Trump shortly after denying reports that he was seeking one. In a Farokh Radio podcast episode aired on May 6, Zhao stated that he “wouldn’t mind” a pardon and that his lawyers had already filed the necessary paperwork on his behalf. He mentioned that the application was submitted about two weeks prior to the podcast, following reports from various news outlets in March that he was seeking a pardon from Trump amid discussions of a business deal between the Trump family and Binance.US. Zhao initially denied these reports but later decided to officially apply for a pardon, stating that if the media was writing about it, he might as well make it official.

Zhao's decision to apply for a pardon was also influenced by Trump's previous pardon of three BitMEX founders, including Arthur Hayes. Zhao pleaded guilty to a money laundering charge in November 2023 as part of a deal with US authorities, which saw Binance pay a $4.3 billion fine, with Zhao contributing $50 million. As a result of his plea, Zhao was sentenced to four months in prison and was prohibited from working at Binance. Despite his conviction, Zhao claimed that he is the only person in US history to serve prison time for a Bank Secrecy Act charge.

According to the US Department of Justice, a pardon would not erase Zhao’s money laundering conviction. However, it could potentially allow him to assume a management or operational role at Binance.US. Zhao has stated that he has no plans to return as Binance CEO, expressing confidence in the team's ability to continue without him. Since leaving prison, Zhao has taken on advisory roles in various regions, assisting with matters related to crypto regulation and implementing blockchain solutions.

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