In a shocking move that’s sending tremors through the crypto community and Capitol Hill, Donald Trump has officially pardoned Binance founder Changpeng Zhao. The billionaire crypto executive had been sentenced to four months in prison for allowing money laundering activities through his platform, but now walks free thanks to Trump’s latest high-profile pardon.
White House press secretary Karoline Leavitt broke the news Wednesday, saying, “President Trump exercised his constitutional authority by issuing a pardon for Mr. Zhao, who was prosecuted by the Biden Administration in their war on cryptocurrency. In their desire to punish the cryptocurrency industry, the Biden Administration pursued Mr. Zhao despite no allegations of fraud or identifiable victims.
Zhao, who’s currently worth an estimated $55 billion, took to Twitter shortly after the news broke, posting, “Deeply grateful for today’s pardon and to President Trump for upholding America’s commitment to fairness, innovation, and justice. Will do everything we can to help make America the Capital of Crypto and advance web3 worldwide.
Deeply grateful for today’s pardon and to President Trump for upholding America’s commitment to fairness, innovation, and justice.
🙏🙏🙏🙏Will do everything we can to help make America the Capital of Crypto and advance web3 worldwide.
(Still in flight, more posts to come.)…
— CZ 🔶 BNB (@cz_binance) October 23, 2025
While Zhao personally paid a $50 million fine, Binance was hit with more than $4 billion in penalties following a plea deal with the Justice Department. That agreement was part of a sweeping effort coordinated with Treasury, the CFTC, and FinCEN.
Leavitt didn’t hold back in her criticism of the Biden administration, adding, “These actions by the Biden Administration severely damaged the United States’ reputation as a global leader in technology and innovation. The Biden Administration’s war on crypto is over.”
This pardon isn’t an isolated case. Trump has issued a string of headline-grabbing clemencies in recent years, including reality stars, rappers, and disgraced politicians. Zhao now joins that list, cementing Trump’s pivot toward embracing the crypto world as he seeks support for his 2024 run.
Just this year, Trump hosted a dinner for top investors in his meme coin, raising close to $150 million. With Zhao back in the picture, that crypto strategy is starting to look like more than a side hustle.
