President 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.”

Changpeng 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. REUTERS

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 w

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