Market News

US President Trump Grants Pardon to Binance's CZ, Shifting Crypto Landscape

US President Donald Trump has officially pardoned Changpeng "CZ" Zhao, the founder of Binance.

This pardon notably comes after Zhao's conviction related to violations of the Bank Secrecy Act.

Zhao served four months in prison in 2024, which followed his guilty plea in November 2023.

With the pardon, Zhao is now allowed to pursue business opportunities within the United States once again.

This decision represents a significant policy shift towards the cryptocurrency sector, especially under the Trump administration.

White House Press Secretary Karoline Leavitt emphasized that this action signifies the end of the "Biden administration's war on crypto."

Market reaction was swift, with Binance's native token, BNB, experiencing a 3% increase immediately after the news broke.

The move showcases Trump's evolving stance on cryptocurrency and its leaders, challenging previous regulatory pressures.

Zhao had requested a pardon as early as May 2025, believing that the targeting was politically motivated.

Overall, this development signals a new era for Binance and its operations in the US market.