BREAKING: Binance CZ Receives U.S Presidential Pardon

President Donald Trump has granted a full presidential pardon to Changpeng Zhao, popularly known as ‘CZ’, the founder and former Chief Executive Officer of global cryptocurrency exchange, Binance.

The White House confirmed the decision on Thursday, describing it as part of the administration’s broader effort to end what it called the “Biden-era war on crypto.”

Zhao, popularly known as CZ, had pleaded guilty in 2023 to charges related to Binance’s failure to maintain adequate anti–money laundering measures. The case led to a record $4.3 billion settlement between Binance and U.S. authorities, after which Zhao stepped down as CEO. He was sentenced to four months in prison in 2024 and released later that year.

In a statement, the White House Press Secretary said the pardon reflects President Trump’s commitment to “resetting America’s approach to digital innovation and restoring fairness to the cryptocurrency sector.”

“This administration recognizes the importance of blockchain technology, entrepreneurship, and digital finance. The pardon of Mr. Zhao marks the beginning of a new chapter for the crypto industry in the United States,” the statement read.

Zhao, 47, founded Binance in 2017 and grew it into the world’s largest cryptocurrency exchange by trading volume. Following news of the pardon, Bitcoin and other major cryptocurrencies saw an immediate uptick, reflecting optimism among traders and investors.

As of press time, Binance has yet to issue an official statement, though sources close to the company say Zhao is expected to release a public message “thanking supporters and reaffirming his commitment to innovation and transparency in the global crypto ecosystem.”