After being granted a presidential pardon, Binance founder Changpeng Zhao vows to help make the United States the “Capital of Crypto” and promote Web3 innovation worldwide.
Introduction: Presidential Pardon Sparks Debate in Crypto Circles
US President Donald Trump has publicly defended his decision to pardon Binance founder Changpeng “CZ” Zhao, saying he acted after “a lot of people” urged him to review the case, insisting that “what he did is not even a crime.”
The pardon, signed on Wednesday, was later confirmed by Binance, marking a major turning point for one of the most influential figures in the crypto industry. The move has drawn both praise and criticism from across political and financial sectors.
Trump: “He Was Persecuted by the Biden Administration”
Speaking at a press conference on Thursday, Trump said he did not personally know Zhao but was persuaded by strong recommendations and widespread support.
“I don’t know him, I don’t believe I’ve ever met him,” Trump stated. “But I’ve been told he had a lot of support, and people said that what he did is not even a crime. He was persecuted by the Biden Administration.”
The comments directly referenced Zhao’s previous four-month prison sentence for violating the US Bank Secrecy Act, related to compliance failures at Binance.
Legal Experts and CZ’s Attorney React
Teresa Goody Guillén, Zhao’s attorney, welcomed the pardon, emphasizing that the original charge was non-fraudulent.
Court documents showed no evidence that Zhao knowingly enabled illicit transactions, strengthening the argument for leniency.
CZ’s Response: “Making America the Capital of Crypto”
Following the pardon, CZ posted on X, expressing gratitude and reaffirming his commitment to the crypto industry’s development.
As part of his earlier plea deal, Zhao stepped down as Binance CEO and was temporarily barred from holding an executive role at the exchange. However, the pardon could clear the way for his return and reestablish his leadership in the global crypto ecosystem.
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.