Trump Pardons Binance Founder After Lobbying

President Trump granted a presidential pardon to Changpeng “CZ” Zhao, the founder and former CEO of Binance. Zhao pleaded guilty in 2023 to failing to maintain adequate anti‑money‑laundering controls as part of a settlement that included a $4.3 billion penalty for Binance; he served four months in prison, paid fines and stepped down as CEO. The White House, via press secretary Karoline Leavitt, described the move as reversing the Biden administration’s “war on cryptocurrency.” Markets reacted immediately, with Bitcoin and Binance’s BNB token jumping (BNB up roughly 5–8% and reclaiming about $1,100). Reports say the pardon followed months of lobbying and business dealings tied to the Trump family’s World Liberty Financial venture, and observers warn it could remove legal barriers to Binance resuming U.S. operations while raising conflict‑of‑interest and accountability concerns; the clemency also follows other crypto‑friendly pardons by Trump.