Summary
President Donald Trump pardoned Changpeng Zhao, also known as "CZ", who co-founded the cryptocurrency exchange Binance. Although Zhao had previously admitted to involvement in money laundering, Trump claims he does not know Zhao personally and considers him a victim of unfair prosecution during Joe Biden's presidency. The pardon permits Zhao to engage in financial ventures without restrictions.
Key Facts
- President Trump pardoned Changpeng Zhao, co-founder of Binance.
- Zhao was guilty of enabling money laundering in 2023 and served four months in jail.
- Zhao agreed to leave his role as the head of Binance.
- Trump stated in an interview that he does not know Zhao.
- Trump suggested Zhao was unfairly treated by the Biden administration.
- The pardon allows Zhao to participate in finance again, but his regulatory status is unclear.
- The pardon was criticized as being in Trump's financial interest.
- Trump has shown support for cryptocurrencies, wanting the U.S. to be a leader in the sector.
