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People inside Donald Trump’s camp are now seriously talking about a presidential pardon for Changpeng “CZ” Zhao, the former boss of Binance.
Multiple sources allegedly told FOX Business’ Charles Gasparino that the conversation has picked up in recent weeks. They say the Trump team is treating it like a real option, though perhaps for the tenth time this year.
The crypto community’s beloved CZ ran into trouble with the feds back in 2023. He cut a plea deal with the U.S. Department of Justice, admitting guilt to money laundering charges, which also forced him to step down as CEO and cost Binance a massive $4.3 billion in fines.
On top of that, CZ personally had to cough up $50 million and serve four months in prison. He got sentenced in April 2024, did time at a low-security federal prison in California, then finished up at a halfway house. He got out in September 2024.
Trump’s team pushes back on crypto crackdown
According to Charles, many inside Trump’s circle think CZ got railroaded. They’re calling it political, part of what they describe as the Biden administration’s war on crypto. The pardon idea fits into a bigger plan most of them have been pushing all year: a hard pivot toward pro-crypto policies.
They believe the former administration deliberately treated crypto leaders like criminals instead of innovators.
Even some critics of Binance think the government went overboard. The original case claimed CZ let the exchange process illegal transactions, including those involving sanctioned parties, and failed to set up strong anti-money-laundering systems.
But whether the punishment fits the crime has always been a hot topic. Some argue that CZ was made into an example during an election season.
CZ still owns the biggest single stake in Binance. A pardon could bring him back into formal leadership. He started the company in 2017, and under his watch it became the world’s largest place to trade Bitcoin and other cryptos.
Right now, he’s not in charge, but his influence remains strong behind the scenes. A cleared name would change everything.
Still, nothing moves fast in Trump world. His attention is stretched across several global fights: Ukraine, Gaza, and even China, where trade tensions are flaring up again. People familiar with how clemency decisions are made say they often take longer than expected, especially with this kind of case.
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