U.S. President Donald Trump pardoned Binance founder Changpeng Zhao, who previously pleaded guilty to money laundering while leading the cryptocurrency exchange, the White House said on Thursday.
“President Trump exercised his constitutional authority to pardon Mr. Zhao, who was prosecuted by the Biden administration in the cryptocurrency war,” White House press secretary Carolyn Leavitt said in a statement.
In November 2023, Zhao pleaded guilty in the case and agreed to step down as Binance CEO as part of the company's $4.3 billion settlement with the Department of Justice.
He was sentenced in April 2024 to just four months in prison.
Federal prosecutors asked the judge to sentence Zhao to three years in prison.
Nearly a week ago, Trump pardoned the 87-month sentence of former New York Rep. George Santos, who pleaded guilty to wire fraud and aggravated identity theft.
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