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NATIONAL NEWS

Trump pardons Binance founder Changpeng Zhao

Oct 23, 2025, 8:41 AM | Updated: 2:14 pm

Associated Press's Profile Picture

BY ASSOCIATED PRESS


WASHINGTON (AP) — President Donald Trump has pardoned Binance founder Changpeng Zhao, who created the world’s largest cryptocurrency exchange and served prison time after failing to stop criminals from using the platform to move money connected to child sex abuse, drug trafficking and terrorism.

Zhao had asked Trump for a pardon previously.

He has deep ties to World Liberty Financial, a crypto venture that the Republican president and his sons Eric and Donald Jr. launched in September.

Trump’s most recent has launched USD1, a stablecoin pegged at a 1-to-1 ratio to the U.S. dollar.

World Liberty Financial also recently announced that an investment fund in the United Arab Emirates would be using $2 billion worth of USD1 to purchase a stake in Binance. Zhao also has publicly said that he had asked Trump for a pardon that could nullify his conviction.

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Trump pardons Binance founder Changpeng Zhao