Trump Pardons Binance Founder CZ, Boosts Crypto Industry

In a significant move aimed at bolstering the cryptocurrency sector, U.S. President Donald Trump has pardoned Changpeng Zhao, the convicted founder of Binance, the world’s largest crypto exchange. The decision, announced by the White House on Thursday, is part of Trump's broader strategy to cleanse the industry's past missteps and further promote its growth.

Zhao, a key figure in the crypto market known for his influence and entrepreneurial acumen, had pleaded guilty to charges related to insufficient anti-money laundering practices at Binance. The pardon comes as Zhao expressed gratitude on social media, emphasizing Trump's leadership in fostering fairness, innovation, and justice in the crypto arena.

With this pardon, the path is now open for Zhao to potentially return to a leadership role at Binance and drive its expansion in the U.S. The decision also underscores the Trump administration’s supportive stance towards cryptocurrency, as evidenced by the significant backing from the crypto community in Trump's formidable 2024 presidential campaign.