US President Donald Trump issued a presidential pardon on Thursday to Changpeng Zhao, founder of the cryptocurrency trading platform Binance, who was previously convicted of money laundering charges. Observers believe that this step aims to support the digital currency sector in the United States.
A statement issued by the White House explained that the presidential pardon seeks to “turn a new page for the cryptocurrency sector and strengthen the United States’ position as a global center for financial innovation.” In return, Zhao expressed his gratitude to President Trump for this pardon, praising what he described as “the American administration’s adherence to the principles of fairness and justice.”
It is worth mentioning that Zhao, known as “CZ,” is considered one of the prominent figures in the world of digital currencies. He resigned from his position as CEO of Binance in 2023, after the company admitted its failure to implement anti-money laundering laws, which led to a large financial fine of $4.3 billion.
In a statement, Caroline Levitt, the White House spokeswoman, stated that Zhao was prosecuted under former President Joe Biden “as part of that administration’s war on the digital currency sector,” considering that the new pardon aims to “restore confidence in the American financial innovation environment.”
It is worth noting that the Trump family, following its return to power, has collected millions of dollars through investments in the field of cryptocurrencies, which has sparked criticism from some political opponents who pointed to the possibility of a conflict of interest. However, the White House denied these allegations, and confirmed that all amnesty decisions were taken after careful study in accordance with clear and specific standards.
Zhao expressed his thanks to President Trump in a post on the “X” platform, saying: “I appreciate this fair step, which reflects the United States’ belief in innovation and opportunity. We will continue to work to make it a leading global center for the cryptocurrency industry.”
source: 961 today
