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TLDR
- Changpeng Zhao (CZ), Binance founder, confirmed applying for a presidential pardon from Donald Trump
- CZ submitted his pardon request two weeks ago, after media reports emerged about it
- He served four months in prison after pleading guilty to failing to maintain an effective anti-money laundering program
- CZ has no plans to return as Binance CEO, though he remains the largest shareholder
- Trump has previously pardoned several crypto figures including Silk Road creator Ross Ulbricht and BitMEX co-founders
Changpeng “CZ” Zhao, founder and former CEO of Binance, has confirmed he has officially applied for a presidential pardon from Donald Trump. Zhao revealed this information during a Farokh Radio podcast episode released on May 6, 2025.
The pardon request comes after Zhao served a four-month prison sentence last year for failing to maintain an effective anti-money laundering program at Binance. He was released from prison in September 2024.
According to Zhao, his legal team submitted the pardon application approximately two weeks ago. This comes after he initially denied media reports about seeking a pardon.
Media Reports Sparked Official Application
Zhao explained that his decision to seek a pardon was prompted by March 2025 reports from Bloomberg and The Wall Street Journal. These publications claimed he was seeking a pardon amid business deal discussions with crypto ventures linked to the Trump family.
“We only submitted after the Bloomberg article and the Wall Street Journal article came out,” Zhao said on the podcast. “If they are writing this article, we might as well just officially apply.”
When the reports first emerged, Zhao denied them on social media platform X. However, he did not completely rule out the possibility of seeking a pardon at that time.
“No felon would mind a pardon, especially being the only one in U.S. history who was ever sentenced to prison for a single BSA [Bank Secrecy Act] charge,” Zhao had stated.
Legal Consequences and Future Plans
The legal troubles for Zhao stem from a November 2023 guilty plea as part of a settlement with U.S. authorities. This deal saw Binance pay a $4.3 billion fine, with Zhao personally contributing $50 million.
In addition to the prison sentence, Zhao was prohibited from working at Binance as part of his plea deal. He stepped down as CEO as a result of the settlement.
Despite seeking a pardon, Zhao has made it clear he has no intention of returning to his former role at Binance. “I’m not really looking to become CEO of Binance again,” he stated, though he remains the company’s largest shareholder.
“I feel the team is doing well and doesn’t need me back,” Zhao added during a November appearance at Binance Blockchain Week.
Trump’s Crypto-Related Pardons
President Trump has shown a pattern of granting pardons to figures in the cryptocurrency space. In January 2025, Trump pardoned Ross Ulbricht, the creator of Silk Road who is closely tied to Bitcoin’s early history.
In March, Trump also pardoned three co-founders of the BitMEX cryptocurrency exchange, including Arthur Hayes. Zhao mentioned that Trump’s pardon of the BitMEX founders also motivated his application.
According to the U.S. Department of Justice, a pardon would not erase Zhao’s money laundering conviction. However, it could potentially allow him to assume a management or operational role at Binance.US in the future.
Since his release from prison, Zhao has taken on advisory roles in Pakistan and Kyrgyzstan. In these positions, he has been assisting on matters related to cryptocurrency regulation and implementing blockchain solutions.
English (US) ·