Sign up for the Slatest to get the most insightful analysis, criticism, and advice out there, delivered to your inbox daily.

In 2023, Changpeng Zhao—founder and former CEO of Binance, the biggest crypto exchange in the world—pleaded guilty to money-laundering violations. He served a four-month prison term and paid a $50 million fine. Zhao, usually called “CZ” in crypto circles, had to leave his role leading Binance but maintained his ownership of the exchange. This spring, Binance made a deal with Donald Trump’s crypto firm to host the president’s stablecoin , generating tens of millions of dollars for Trump and his family. Now Zhao has gotten something very good in return: a pardon, perhaps clearing the way for him to take back his old job.

The Trump administration says that this

See Full Page