Lobbying Efforts Worth Over $700,000 Linked to Trump Administration’s Decision
Former Binance CEO Changpeng “CZ” Zhao’s presidential pardon came after a strategic and expensive lobbying push in Washington, involving hundreds of thousands of dollars directed toward Trump-linked lobbyists and legal insiders, according to recent reports.
Zhao, who completed a four-month prison sentence for violating U.S. anti-money laundering (AML) laws, was pardoned earlier this month by President Donald Trump — a move that has drawn both political backlash and renewed scrutiny of Binance’s influence operations.
“This was one of the most aggressive lobbying efforts seen from a crypto company in recent years,” said a D.C.-based policy analyst familiar with the matter. “It was clear Binance wanted to restore its image and re-establish access to U.S. markets under the new administration.”
US President Donald Trump answers reporters’ questions on several topics, including CZ, at Thursday’s press conference. : The White House
Trump Allies and Former SEC Contender Among Lobbyists
In late September, Binance hired Checkmate Government Relations, a firm led by Ches McDowell, a close associate of Donald Trump Jr., to lobby the White House and Treasury Department on what filings described as “executive relief.” The firm received $450,000 for a single month of work, part of a broader strategy to reach Trump’s inner circle.
Simultaneously, Binance and Zhao retained Teresa Goody Guillén, a prominent crypto lawyer once considered for the SEC chair position under Trump, paying her firm $290,000 this year alone. These efforts came on top of Binance’s $1 million lobbying expenditure in 2022, before pausing U.S. operations following its 2023 plea deal.
Political Fallout and Divided Reactions
The pardon has provoked strong criticism on Capitol Hill. Representative Maxine Waters condemned Trump’s move as “a massive favor for crypto criminals”, alleging that Binance’s lobbying campaign and financial connections to Trump-linked ventures, such as World Liberty Financial, played a decisive role.
Trump, however, defended the decision, claiming Zhao was “persecuted by the Biden administration” and that “what he did is not even a crime.”
“The optics are undeniably problematic,” said a Georgetown ethics professor. “Even if the lobbying was lawful, the timing raises serious concerns about policy being shaped by financial influence.”
The episode underscores how crypto regulation and political lobbying are becoming increasingly intertwined, as major firms seek to navigate shifting U.S. policies and leadership.
Binance’s lobbying blitz — totaling over $740,000 this year — illustrates both the rising political stakes for crypto and the delicate balance between influence, compliance, and perception in Washington.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.
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