Trump Pardons Binance Founder Convicted for Crypto Money Laundering

President Donald Trump has pardoned Changpeng Zhao, founder of Binance, who served four months in prison after pleading guilty to enabling money laundering through the cryptocurrency platform linked to child sex abuse, drug trafficking, and terrorism. Trump defended the pardon by stating Zhao was recommended by many and claimed Zhao was persecuted by the Biden administration, which his White House press secretary accused of being hostile to the cryptocurrency industry. The pardon follows months of lobbying by Binance and Zhao, who has been a key supporter of the Trump family's crypto ventures, including the World Liberty Financial crypto business. The move has drawn criticism from prominent figures including venture capitalist Joe Lonsdale, a Trump supporter, who expressed concerns about potential fraud and poor advice to the president. Congresswoman Maxine Waters condemned the pardon as a corrupt act benefiting crypto criminals and alleged pay-to-play schemes involving the Trump family. This clemency is part of a broader pattern of controversial pardons issued by Trump, raising questions about the intersection of politics, business, and cryptocurrency regulation.