Trump Pardons Binance Founder CZ Amid Deal Claims

On Oct. 23, 2025, President Trump pardoned Binance founder Changpeng “CZ” Zhao, wiping his criminal record for a November 2023 guilty plea to U.S. anti‑money‑laundering violations that were resolved in a $4.3 billion DOJ settlement and for which he served four months in prison. The White House framed the pardon as ending the Biden administration’s “war on crypto,” with press secretary Karoline Leavitt saying prosecutors pursued Zhao despite “no allegations of fraud or identifiable victims.” Critics called the move scandalous and corrupt, citing a coordinated pardon campaign by Zhao’s lawyers and lobbyists and reporting that Binance struck a deal with the Trump family’s World Liberty Financial that could funnel millions to Trump associates. Regulators including the DOJ and Treasury had warned that Binance’s compliance failures allowed funds tied to terrorism, drug trafficking and child sexual abuse to flow through the platform, and opponents say the pardon undermines enforcement against such misconduct. Markets and crypto commentators reacted with short‑term rebounds in prices and volumes and warned the clemency could boost confidence in BTC, ETH and Binance‑linked tokens while reintroducing regulatory and reputational risks. Supporters say the pardon could stabilize Binance and clear the way for CZ’s return to influence or a U.S. return, but it deepens partisan divisions and raises fresh questions about political influence and accountability.