Summary
President Donald Trump pardoned Changpeng Zhao, the founder of Binance, a large cryptocurrency exchange. Zhao previously served time in prison for not stopping illegal activity on his platform. He had asked for the pardon from President Trump, who has financial connections to Zhao's crypto ventures.
Key Facts
- President Donald Trump pardoned Changpeng Zhao, founder of Binance.
- Zhao was in prison for not preventing illegal use of Binance for crimes.
- He requested a pardon from President Trump before receiving it.
- President Trump has financial ties to World Liberty Financial, a crypto venture.
- Trump made over $57 million last year from World Liberty Financial.
- World Liberty Financial launched a stablecoin called USD1, linked to the U.S. dollar.
- An investment fund in the UAE plans to use USD1 to buy a stake in Binance.
- Zhao admitted in court to not maintaining an anti-money-laundering program.
