Changpeng Zhao, the co-founder and former CEO of global cryptocurrency exchange Binance, has officially confirmed that he has filed for a presidential pardon from Donald Trump.
Zhao, widely known by his initials “CZ,” revealed this during an appearance on the Farokh Radio podcast, where he discussed his legal troubles and his recent efforts to clear his criminal record.
The pardon application was formally submitted two weeks ago, according to Zhao, and came in response to media reports speculating about his potential pursuit of a pardon.
“If they are writing this article, we might as well officially apply,” Zhao stated, referencing the press coverage that prompted his team to act.
Zhao Denies Business Deal With Trump But Acknowledges Pardon Desirability
While Zhao denied rumors that he was offering a business deal to Trump in exchange for clemency, he acknowledged that he has no objection to being pardoned.
The BSA, or Bank Secrecy Act, requires financial institutions to assist federal authorities in detecting and preventing money laundering.
Zhao’s conviction in 2023 stemmed from his failure to implement sufficient anti-money-laundering protocols at Binance, a lapse that resulted in a guilty plea.
His resignation, and a four-month prison sentence he completed between April and September last year.
Also Read: Binance Founder CZ Supports Defamation Lawsuit Against Journalists, Calls For Accountability
Binance’s $2 Billion Deal With Trump-Affiliated Crypto Firm Raises Eyebrows
Zhao’s pardon request comes on the heels of a new business development that could complicate the narrative.
Just last week, Eric Trump, son of the former president, announced that his family’s crypto company, World Liberty Financial (WLF), had formed a joint venture with Binance and UAE-based venture firm MGX.
The agreement involves MGX investing $2 billion into Binance using stablecoins issued by WLFI.
According to Fortune, this deal could net WLFI as much as $80 million annually through yield earned on underlying reserves.
Though Zhao has distanced himself from any direct role in this transaction, the timing of the announcement has fueled speculation that business interests and political favors may be intersecting.
Trump’s History of Pardoning Crypto Figures and Allies May Favor Zhao
If Trump grants Zhao a pardon, it would align with the former president’s track record of extending clemency to crypto-linked figures and political allies.
Since returning to office, Trump has pardoned hundreds within his first 100 days, including individuals convicted for roles in the January 6 Capitol riots and key players in the cryptocurrency industry.
One of his most controversial decisions was the pardon of Ross Ulbricht, the operator of Silk Road, who had been serving a double life sentence.
Additionally, Trump granted clemency to three founders and an executive from crypto exchange BitMEX, all of whom had been convicted of anti-money-laundering violations.
Zhao’s case, while less extreme, fits within this emerging trend of pardons for fintech and blockchain personalities.
Zhao and SBF Align on Trump Pardon Hopes Amid DOJ Criticism
Interestingly, Zhao isn’t the only high-profile crypto executive seeking Trump’s favor. Sam Bankman-Fried, the disgraced founder of collapsed exchange FTX, has also expressed hope for a Trump pardon.
SBF, once a Democratic Party megadonor, now openly criticizes the Biden administration’s Department of Justice and says his political alignment has shifted.
With both Zhao and Bankman-Fried positioning themselves as victims of regulatory overreach, and aligning with Trump’s more crypto-friendly stance, a new political alliance between embattled crypto leaders and the former president appears to be emerging.
Zhao’s statement on the podcast reinforces this sentiment: “This will be a good guy for our industry and also for any sort of people who have a criminal charge.”