According to the Wall Street Journal report, President Trump signed the pardon on Wednesday for Changpeng Zhao, the convicted founder of Binance, after expressing sympathy toward claims of political persecution against Zhao and others targeted by the Biden administration. White House press secretary Karoline Leavitt said Trump “exercised his constitutional authority” and declared that “the Biden Administration’s war on crypto is over.” The decision could pave the way for Binance’s return to the U.S. market after it pleaded guilty in 2023 to violating anti-money-laundering laws and was banned from operating domestically. Zhao, who served four months in prison before his release in September 2024, had reportedly enlisted lobbyist Ches McDowell earlier this year to aid in securing clemency. Binance did not immediately respond to requests for comment, the Journal reported.

FAQ🧠

• What did President Trump do?
  He reportedly issued a presidential pardon for Binance founder Changpeng Zhao, according to the Wall Street Journal.
• Why was Zhao convicted?
  He pleaded guilty in 2023 to violating U.S. anti-money-laundering requirements tied to Binance’s operations.
• When was Zhao released from prison?
  He completed a four-month sentence and was released in September 2024.
• What could the pardon mean for Binance?
  It may allow the crypto exchange to reenter the U.S. market after being barred since its 2023 plea.

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