WASHINGTON: US President Donald Trump has pardoned convicted Binance founder Changpeng Zhao, a White House official said on Thursday.
In a statement, White House press secretary Karoline Leavitt said Trump had “exercised his constitutional authority by issuing a pardon for Mr. Zhao, who was prosecuted by the Biden Administration in their war on cryptocurrency.”
Binance did not immediately respond to a request for comment.
Zhao, one of the most powerful people in the crypto world, had to step down as chief of Binance when the company agreed to a $4.3 billion settlement with the US government to end a years-long probe into misconduct at the world’s largest crypto exchange.
Trump’s pardon of Zhao paves the way for the crypto mogul to return to the business he helped found in 2017. He has already served his time in prison after a judge sentenced him to four months.
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