Former Binance CEO Changpeng “CZ” Zhao has officially been granted a presidential pardon by Donald Trump, according to multiple reports from the White House.
The pardon erases Zhao’s federal conviction under the Bank Secrecy Act, marking one of the most high-profile acts of clemency issued by the Trump administration.
What the Pardon Means for CZ
The pardon clears CZ’s record of his 2023 conviction for failing to maintain an adequate anti-money-laundering (AML) program at Binance.
While Zhao had already served a four-month federal prison sentence and paid a $50 million fine, the pardon removes all legal disabilities associated with the felony.
Practically, this means Zhao can once again enter the United States without the restrictions that typically apply to convicted felons, apply for business licenses, and engage with US-regulated entities without triggering automatic compliance bans.
It also restores his civil rights, including voting and eligibility to hold executive roles in US-registered companies.
However, Binance remains under separate regulatory agreements that may continue to limit his direct involvement.
For Zhao personally, the pardon rehabilitates his status in global finance, potentially reopening doors to new ventures, partnerships, and advisory roles that were off-limits after his conviction.
It also strengthens his position as a leading figure in the crypto industry at a time when US regulators are revisiting digital-asset oversight frameworks.
Background: CZ’s Conviction and Sentencing
Zhao pleaded guilty in November 2023 to violating the Bank Secrecy Act after US prosecutors accused Binance of allowing transactions tied to sanctions-evading entities.
The Department of Justice described the case as a warning to crypto exchanges operating outside established compliance standards.
As part of the settlement, Zhao stepped down as Binance’s CEO, paid the personal fine, and served a four-month sentence in federal custody.
Binance itself admitted to multiple compliance failures and paid a $4.3 billion corporate penalty, one of the largest in US history.
Can CZ Return to Binance?
Even with the pardon, Zhao’s immediate return to Binance remains unlikely. The company’s 2023 plea deal includes binding provisions preventing him from participating in management or governance for several years.
However, the pardon removes the criminal barrier, meaning that once those regulatory restrictions expire, Zhao could technically seek to resume an executive or advisory capacity — either within Binance or through new ventures.
The post Donald Trump Reportedly Pardons Binance Founder Changpeng “CZ” Zhao appeared first on BeInCrypto.
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Mohammad Shahid
https://beincrypto.com/rump-pardons-binance-founder-cz/
2025-10-23 15:22:00
