The Block reports that Changpeng Zhao, also known as CZ, the founder and past CEO of Binance, has lodged a plea for a pardon from U.S. President Donald Trump, subsequent to his release from incarceration last year.
During a recent episode of the Farohk Radio podcast, Zhao revealed that his clemency appeal was officially made by his legal team a fortnight ago. “It was only after the Bloomberg and Wall Street Journal articles were published that we submitted,” Zhao stated. He was addressing the duo of articles released in March that suggested he was pursuing a pardon in the midst of negotiating business deals with crypto enterprises connected to the Trump family.
Zhao initially dismissed these reports but didn’t exclude the possibility of a pardon. “I regret to let you down. The WSJ article misinterpreted the facts,” Zhao declared on X in March. “No criminal would reject a pardon, particularly as I am the sole individual in U.S. history ever imprisoned for a single BSA violation. I haven’t discussed a Binance US deal with anyone.”
On the recent podcast, the ex-Binance CEO mentioned that seeing these news articles instigated the pardon application. “Since they’re publishing this, we might as well officially apply,” Zhao stated.
In September, Zhao was freed from prison. He was sentenced to a four-month term in April 2024 after admitting in 2023 to the failure of maintaining an “effective anti-money laundering program.” Binance agreed to a $4.3 billion settlement, marking one of the largest corporate settlements ever, while Zhao was fined $50 million.
Despite his plea for a pardon, Zhao clarified that he has no intentions of reassuming his role as the head of Binance. “I don’t have any plans to return as Binance’s CEO,” remarked Zhao, who still holds the largest share in the world’s leading crypto exchange.
Presidential pardons related to individuals with significant connections to the crypto realm have been in the spotlight since Trump’s return to the White House. In January, Trump extended clemency to Ross Ulbricht, the Silk Road creator closely associated with Bitcoin’s early days. The pro-crypto President also pardoned three BitMEX cryptocurrency exchange co-founders, including Arthur Hayes, in March.
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