Changpeng Zhao, founder of cryptocurrency exchange Binance and convicted felon, was pardoned by Donald Trump on Thursday. The pardon follows months of Zhao acting as a booster for the Trump family’s cryptocurrency projects and may open a path for Binance to once again operate legally within the United States.

“President Trump exercised his constitutional authority by issuing a pardon for Mr. Zhao, who was prosecuted by the Biden Administration in their war on cryptocurrency,” White House press secretary Karoline Leavitt said in a statement. “The war on crypto is over.”

In 2023, Zhao pleaded guilty to one count of violating the American Bank Secrecy Act by failing to comply with the Financial Crimes Enforcement Network’s anti-money laundering requirements. As part of the settlement agre

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