Binance Founder CZ Applies for Presidential Pardon from Donald Trump
Recently, Binance founder Zhao Changpeng (CZ) announced that he has applied for a presidential pardon from U.S. President Donald Trump, having previously denied related reports.
In an interview with the “Farokh Radio” podcast, CZ stated that he “wouldn’t mind” receiving a pardon and revealed that his lawyer has submitted the relevant documents on his behalf.
CZ added that the application was submitted following reports from Bloomberg and The Wall Street Journal in March of this year, which indicated that he was seeking a pardon from Trump and that the Trump family was in business discussions with Binance.US. At that time, CZ refuted these reports, but he stated in the program:
CZ pointed out that the application was submitted approximately two weeks ago and added that Trump had previously pardoned three BitMEX founders, including Arthur Hayes, which motivated him to file his application.
Previously, when the reports from Bloomberg and The Wall Street Journal were released, CZ stated, “No convicted person would mind being pardoned,” claiming that he is the only person in U.S. history to be imprisoned for violating the Bank Secrecy Act.
In November 2023, Binance pleaded guilty and agreed to pay over $4 billion to resolve investigations by the U.S. Department of Justice related to violations of the Bank Secrecy Act, failure to register its money transmission business as required, and violations of the International Emergency Economic Powers Act. CZ, who was the CEO at the time, also admitted to failing to maintain an effective anti-money laundering program, thereby violating the Bank Secrecy Act. As part of an agreement with U.S. authorities, CZ resigned as CEO and was prohibited from participating in any operational or managerial roles at Binance. In April 2024, he was sentenced to four months in prison by a judge and was released at the end of September last year.
According to the U.S. Department of Justice, a pardon would not erase CZ’s money laundering conviction record but could provide him with an opportunity to re-engage in the management or operations of Binance.US. However, CZ stated at an event in November last year that he has no plans to return to the CEO position, believing that the current team is operating well. CZ remains a shareholder of Binance.
After his release, CZ has met with various governments to promote blockchain applications and provide digital asset policy advice. In addition to meeting with the Prime Minister of Malaysia last month to discuss the development of the national digital asset industry, CZ also signed a Memorandum of Understanding (MoU) with the Kyrgyz government to assist in the formulation of cryptocurrency-related policies and technical support. He has also joined the Pakistan Crypto Committee as a strategic advisor to help promote cryptocurrency infrastructure, education, and application adoption.