White House Talks “Heating Up” On Possible Trump Pardon For Binance Co-Founder Changpeng “CZ” Zhao

Ever since Donald Trump took office, he has been working closely with the leaders of the crypto industry and has also worked on making clear regulations for the space, making it easier for the Web3 space in America.

Not just this, Trump has also granted pardons to convicted individuals who are associated with the cryptocurrency space. 

To add to that list now, according to a source, talks at the White House on the potential pardon of Binance co-founder Changpeng “CZ” Zhao by US President Donald Trump may be progressing.

Is Binance CZ getting a pardon under Trump?

“People close to CZ, the former Binance chief … say discussions inside the White House are heating up on the possibility of a pardon from,” Fox Business Senior Correspondent Charles Gasparino posted to X on Friday. 

“Many Trump insiders believe the fraud case against [CZ] was pretty weak, and certainly not something that merited a felony conviction and jail time.”

Also Read: Binance Co-Founder CZ Donates $11 Million In BNB To Giggle Academy For Global Education

CZ said on a podcast in May that after being released from jail the previous year, he requested a pardon from President Trump. 

In March, the Wall Street Journal revealed that CZ had requested a pardon, a request he rejected at the time.

How will this go forward?

CZ came out of prison last year, and something like this will be big for the crypto industry. Even though not all is going to welcome this move, this will still hold as an important example of how future cases of pardon will be watched. 

“Trump leaning toward a pardon, which could set the stage for CZ’s return to the crypto exchange since he remains Binance’s largest shareholder,” Gasparino said Friday. 

However, he added that the administration is worried about the “optics” of a pardon, given the president’s involvement in the digital assets space.  With a number of initiatives, Trump’s family has gotten quite active in the cryptocurrency space.

Earlier cases of pardons under Trump

On January 22nd, UnoCrypto reported that President Trump granted a presidential pardon to Ross Ulbricht, the inventor of the Silk Road marketplace.

Ulbricht, a famous figure in Bitcoin and libertarian circles, was receiving a double life term without the possibility of release after being convicted in 2015 of trafficking illicit substances online. Most of his trades online did include Bitcoin as the currency for payment.

Not just this, three co-founders of the BitMEX global cryptocurrency exchange and a former senior staff member of the firm were pardoned by President Donald Trump.

Also, Roger Ver, an early Bitcoin investor, and the U.S. Justice Department came to a “tentative agreement” over criminal tax charges.

According to those familiar with the situation, Ver would pay the government around $48 million, and if he accepted the conditions, the charges may be withdrawn.

What does this mean?

CZ’s pardon means for the crypto industry. Even though no official confirmation has come under this, people have reacted with mixed reactions to the matter.

Zhao received a four-month term and was released from prison last year.  In 2023, he entered a guilty plea to the charge of not having an “effective anti-money laundering program.”

Also Read: Binance Co-Founder CZ Reflects On First Year Post Prison Release, Cites US Regulatory Growth & Record Highs For BTC, ETH, BNB