tl;dr
Changpeng Zhao (CZ), former CEO of Binance, has confirmed applying for a presidential pardon from Donald Trump, submitted two weeks ago after media reports suggested he sought clemency related to crypto ventures linked to the Trump family. Despite seeking a pardon, CZ stated he has no plans to retur...
Changpeng Zhao (CZ), the former CEO of Binance, has officially applied for a presidential pardon from Donald Trump, submitting the request two weeks ago. This move came after media reports suggested CZ was seeking clemency linked to crypto ventures associated with the Trump family. Despite applying for a pardon, CZ made it clear he has no intention of returning to Binance’s leadership, although he still remains its largest shareholder.
In November 2023, CZ pleaded guilty to a money laundering violation, which triggered a $4.3 billion penalty for Binance and a personal payment of $50 million. He was subsequently sentenced to four months in prison and banned from any leadership role at Binance. Although a presidential pardon would not erase his conviction, it could potentially allow him to resume managerial or operational roles within the company.
During an interview on the Farokh Radio podcast, CZ disclosed that the pardon application was filed following news articles by Bloomberg and The Wall Street Journal. He noted that the articles prompted the decision to formally seek clemency, after initially denying the reports. CZ also remarked on the rarity of his case, highlighting that he is the only person in U.S. history sentenced to prison for a single Bank Secrecy Act (BSA) charge.
He compared his situation to the pardoning of BitMEX founders by President Trump, suggesting that this precedent influenced his decision. Despite the ongoing legal saga, CZ emphasized he does not plan to reassume the CEO role at Binance but continues to play a significant role as the largest shareholder.
Since serving his prison sentence, CZ has taken advisory roles overseas, supporting crypto ecosystem development. Notably, he is assisting Pakistan’s crypto council with policy and infrastructure and has signed a memorandum of understanding (MOU) with Kyrgyzstan’s National Investment Agency to promote Web3 initiatives and digital finance projects.