Donald Trump has granted a full pardon to Changpeng “CZ” Zhao, the founder of Binance, ending almost a year of political back-and-forth over what is the most-watched case in crypto.
The decision came after over eleven months of lobbying, private meetings, and direct appeals that finally convinced the “crypto president” to sign the pardon on Wednesday, following CZ’s four-month prison sentence that was served after Binance pleaded guilty to violating U.S. anti-money-laundering laws.
Sources close to the matter allegedly told the Wall Street Journal that CZ personally pushed efforts to improve ties between Binance and Trump’s family business, especially after World Liberty Financial, the Trump family’s crypto venture, launched earlier this year.
Binance had reportedly been helping with liquidity infrastructure and backend tools, becoming one of the early backers of the project.
Trump ends crypto war with White House statement
WSJ says White House press secretary Karoline Leavitt told them that:- “President Trump has exercised his constitutional authority by issuing a pardon for Mr. CZ, who was prosecuted by the Biden Administration in their war on cryptocurrency.”
She added that “the Biden Administration’s war on crypto is over.”
The deal barred Binance from operating in the U.S., forcing it to move most of its business offshore.
The pardon now opens a potential path for Binance’s return to the American market, something the Journal says has been quietly planned for months.
The company had spent almost a year pushing for CZ’s release and rehabilitation in Washington. Earlier this year, Binance brought on lobbyist Ches McDowell to help secure political support and convince lawmakers that CZ’s case had been exaggerated under Biden’s Justice Department.
The hiring, along with multiple meetings between Binance representatives and Trump’s campaign officials, reportedly helped shape the president’s view that the prosecution was politically driven.
Neither CZ nor Binance has made any public comment since the pardon was signed, but WJS says he has been advised to stay quiet until the company receives formal clearance from U.S. regulators to resume operations. Trump, meanwhile, is said to have told advisers that he sympathized with CZ’s argument of “political persecution.”
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