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People close to Changpeng Zhao, the former CEO of Binance better known as \u2018CZ,\u2019 say discussions are intensifying inside the Trump White House over whether to issue a presidential pardon for the embattled crypto executive, according to reporting<\/a> from Zhao, once among the most influential figures in the digital asset world, served time following a plea deal<\/a> with the U.S. Department of Justice in 2023 that included a money-laundering conviction and $4.3 billion in fines for Binance.\u00a0<\/p>\n But according to several sources familiar with the matter, many within Trump\u2019s inner circle now view the case as politically motivated \u2014 a hallmark of what they describe as the Biden administration\u2019s broader crackdown on crypto<\/a>.<\/p>\n Zhao remains Binance\u2019s largest individual shareholder, and a pardon could clear the way<\/a> for his formal return to the exchange, which he founded in 2017 and grew into the world\u2019s largest Bitcoin and crypto trading platform.<\/p>\n Speculation of a Trump pardon has been looming<\/a> for most of this year, but the decision is reportedly coming soon.<\/p>\n Zhao\u2019s 2023 conviction marked one of the most high-profile cases in the government\u2019s campaign against major exchanges.\u00a0<\/p>\n U.S. prosecutors accused Binance of allowing illicit transactions with sanctioned entities and failing to implement proper anti-money-laundering controls. CZ pleaded<\/a> guilty, stepped down as CEO, and paid a personal fine of $50 million.<\/p>\n Zhao served a four-month prison sentence. He was sentenced in April 2024 and released in September 2024, after spending time in a low-security federal prison in California and then a halfway house.<\/p>\n Despite this, even critics of Binance have questioned whether the criminal charges were proportionate. Trump\u2019s team reportedly sees Zhao\u2019s situation as an opportunity to demonstrate a \u201cnew era\u201d of crypto policy \u2014 one that favors innovation over punishment.<\/p>\n A decision could come before year\u2019s end, but Trump\u2019s attention is divided between foreign policy flashpoints \u2014 including conflicts in Gaza, Ukraine, and renewed trade tensions<\/a> with China \u2014 and that clemency discussions often take longer than expected, according to Gasparino.<\/p>\n For now, the crypto world is watching closely. A Trump pardon for CZ would mark not only a personal vindication for Zhao, but also be somewhat of a political statement: Trump signaling that the world\u2019s most powerful government is truly open for Bitcoin business.<\/p>\n<\/p><\/div>\nCZ background<\/h2>\n