In a move that stunned both Washington and Wall Street, President Donald Trump pardoned former Binance CEO Changpeng “CZ” Zhao, who had served four months in prison over anti–money laundering violations. Within hours, Zhao thanked Trump and pledged to “make America the Capital of Crypto,” while markets exploded with double-digit gains. What this pardon signals is more than forgiveness—it’s a clear message that crypto now sits at the heart of America’s power game.
Trump Defends the Pardon: “He Was Persecuted”
President Donald Trump addressed the media Thursday, confirming he issued a full pardon to former Binance CEO Changpeng Zhao. Trump said Zhao was “persecuted by the Biden administration” and added, “A lot of people say he wasn’t guilty of anything.”
Zhao, who served four months in prison, had pled guilty in 2023 for failing to maintain an effective anti–money laundering program. Binance later paid a massive $4.3 billion settlement, while Zhao personally paid a $50 million fine.
CZ Responds: “Deeply Grateful”
Following the pardon, Zhao posted a message saying he was “deeply grateful” and promised to “do everything we can to help make America the Capital of Crypto.” His statement immediately went viral across X and Telegram channels, with crypto enthusiasts hailing it as a turning point for U.S. crypto policy.
Trump: “I Don’t Know Him, But Everyone Spoke Highly”
Trump told reporters he doesn’t know Zhao personally. “I don’t believe I’ve ever met him,” he said. “But I’ve been told he had a lot of support and that what he did isn’t even a crime… so I gave him a pardon at the request of a lot of very good people.”
When pressed by CNN’s Kaitlan Collins, Trump fired back with a few “fake news” remarks before moving on.
World Liberty and Binance Back in Focus
Earlier this year, The Wall Street Journal reported that Trump-backed World Liberty Financial (WLFI) had discussed buying a stake in Binance.US amid speculation that Changpeng Zhao was pursuing a presidential pardon. World Liberty denied the claims, calling them politically motivated.
Just weeks later, Abu Dhabi–based MGX announced a $2 billion deal with Binance, using World Liberty’s USD1 stablecoin. That connection has now reignited curiosity about whether crypto and politics are becoming more intertwined under the Trump administration.
Market Reacts: BNB and WLFI Soar
Within hours of the announcement, Binance’s BNB token jumped 5%, while WLFI surged more than 15%. The rally signals renewed optimism in the market—and perhaps growing belief that a Trump-led administration could usher in a friendlier era for digital assets.
Crypto Pardons Continue: Ross Ulbricht Freed
This isn’t Trump’s first high-profile crypto pardon. Right after taking office in January, he signed an executive order freeing Ross Ulbricht, the Silk Road founder who had been serving multiple life sentences. The move drew both praise and outrage, depending on who you asked.
The Bigger Picture: Crypto Politics Are Heating Up
The Trump-Zhao episode comes just a week after FTX founder Sam Bankman-Fried claimed his arrest was politically driven by the Biden administration after he began supporting Republican candidates. Bankman-Fried is currently serving nearly 25 years in prison for fraud.
Between Ulbricht’s release, Changpeng Zhao pardon, and renewed speculation around crypto’s political influence, one thing is clear—crypto is no longer just a financial story. It’s a campaign battlefield.