United States President Donald Trump has pardoned Binance founder and chief executive officer, Changpeng Zhao, who is accused of money laundering while he was the head of cryptocurrency exchange, The White House announced on Thursday, October 23.

Changpeng Zhao was convicted by the previous Biden administration. In November 2023, Zhao pleaded guilty in a Seattle federal court and agreed to step down as Binance CEO. A settlement deal of USD 4.3 billion was made by his company with the Department of Justice.

“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.

“In their desire to punish the cryptocurrency indu

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