Trump pardons Binance founder Changpeng Zhao

In a surprising turn of events, former President Donald Trump has extended a pardon to Changpeng Zhao, the founder of Binance, as reported by CNBC. Zhao, who had previously admitted guilt to charges related to facilitating money laundering during his tenure at the cryptocurrency exchange, served four months in prison last year. White House Press Secretary Karoline Leavitt commented on the decision, stating, "President Trump exercised his constitutional authority by issuing a pardon for Mr. Zhao, who was prosecuted by the Biden Administration in their war on cryptocurrency." This pardon arrives shortly after reports from The Wall Street Journal highlighted that the Trump family's cryptocurrency initiative had profited from a partnership with a lesser-known trading platform managed by Binance. Since the 2024 election, this venture is said to have amassed approximately $4.5 billion. Following his guilty plea to the Department of Justice charges in 2023, Zhao stepped down from his role as Binance CEO, incurred a $50 million fine, and committed to never holding an executive position at Binance again. In light of the legal actions taken against him, Binance was compelled to pay a staggering $4.3 billion settlement to the U.S. government, marking one of the most significant corporate fines in American history.