Changpeng Zhao, a key figure in the founding of the crypto exchange
$19.7B
, is potentially in line for a presidential pardon, according to whispers circulating within political circles.
Back in 2024, Zhao pled guilty to violating US banking regulations tied to anti-money laundering efforts and subsequently served a brief period of incarceration.
Financial journalist Charles Gasparino posted on X, indicating that individuals close to President Donald Trump view the legal action as excessive, arguing that the prison sentence and felony conviction were unwarranted.
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According to these sources, President Trump is reportedly amenable to the idea of issuing a pardon, which could potentially clear the path for Zhao to resume a more active role at Binance.
Responding to the report on X, Zhao acknowledged Gasparino’s information but stopped short of confirming any direct knowledge of pardon discussions. He further clarified that the case against him did not involve any allegations of fraud.
Zhao stated that his guilty plea related solely to a single infraction of the Banking Secrecy Act. He underscored his clean criminal record, emphasizing that he faced no other accusations.
He also remarked that he believes he is the only individual to have been incarcerated for a solitary violation of this particular legal statute, absent any additional complications or legal baggage.
However, Gasparino cautioned that the pardon, should it materialize, could be a lengthy process. The President is said to be prioritizing more pressing matters, like mediating global conflicts and negotiating commercial agreements with China.
Separately, it has recently been reported that Roger Ver neared an agreement with US authorities to potentially avert a jail sentence. Find out how by clicking here.