A potential presidential pardon is under consideration for former Binance CEO Changpeng Zhao (CZ), according to White House sources. Discussions have reportedly gained momentum within the Trump administration regarding a pardon for CZ, who was imprisoned on fraud charges as part of the Biden administration’s crypto crackdown.
Those close to Trump argue that the case against CZ is “weak” and does not constitute a serious enough crime to warrant a prison sentence. US President Donald Trump is reportedly inclined to this view and may consider a pardon.
If a pardon is granted, it could pave the way for CZ to return to Binance, as he remains the company’s largest shareholder.
But there are also concerns within the White House about how this pardon would “look ethically and politically” due to Trump’s business interests in crypto markets.
*This is not investment advice.