Changpeng 'CZ' Zhao, Binance's founder and former CEO, has confirmed on a podcast that he has formally applied for a presidential pardon from Donald Trump, less than a year after serving a four-month sentence in a US federal prison. According to Zhao, his legal team submitted the application two weeks prior, following the publication of articles by Bloomberg and The Wall Street Journal reporting his pursuit of a pardon amidst crypto business dealings with Trump family associates.
Zhao had previously denied these claims, calling them inaccurate. In April 2024, Zhao was sentenced after pleading guilty to failing to implement an effective anti-money laundering program at Binance, the world's largest cryptocurrency exchange by trading volume at the time.
He paid a $50 million fine, and Binance paid $4.3 billion in a historic corporate settlement. Zhao was released from prison in September last year. Trump has already pardoned notable crypto figures, including Silk Road founder Ross Ulbricht and BitMEX's co-founders, as part of a more crypto-friendly regulatory environment.
During the podcast, CZ also mentioned that he does not have a stake in Donald Trump's official memecoin TRUMP. Earlier, Zhao advised Kyrgyzstan on using BTC and BNB for a potential National Crypto Reserve.