Changpeng Zhao, the founder and former CEO of Binance, has applied for a pardon from former U.S. President Donald Trump. Zhao's application follows his release from prison last year after serving a four-month sentence. He was convicted for failing to maintain an effective anti-money laundering program at Binance.
Zhao stated on the Farohk Radio podcast, released this Tuesday, that he formally submitted the pardon request through his lawyers two weeks ago. He mentioned that the submission was prompted by news reports in March regarding potential business deals with crypto ventures linked to the Trump family. Zhao had previously denied these reports but acknowledged the possibility of seeking a pardon.
Zhao was released from prison in September after being sentenced in April 2024. The sentencing followed his guilty plea in 2023 for failing to maintain an effective anti-money laundering program. In addition to his prison sentence, Zhao was fined $50 million, and Binance agreed to pay $4.3 billion as part of a major corporate settlement.
While seeking a pardon, Zhao clarified that he is not interested in returning as CEO of Binance. He remains the largest shareholder of the world's biggest crypto exchange. Presidential pardons related to individuals in the crypto space have gained attention since Trump's return to the White House.
Notably, in late January, Trump pardoned Ross Ulbricht, the creator of Silk Road, a platform with ties to Bitcoin's early history. Furthermore, in March, Trump pardoned three co-founders of the BitMEX cryptocurrency exchange, including Arthur Hayes.
This article is based on our author's analysis of materials taken from the following resources: Farohk Radio podcast, WSJ, X.