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President Trump has reportedly granted a full pardon to Binance founder Changpeng Zhao, the Wall Street Journal reported Thursday, citing people “familiar with the matter” who said the move follows months of Zhao’s quiet efforts to bolster the Trump family’s own crypto enterprise.
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.
