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Trump pardons Binance founder Changpeng Zhao
Changpeng Zhao, former chief executive officer of Binance, arrives at federal court in Seattle, Washington, US, on Tuesday, April 30, 2024.
David Ryder | Bloomberg | Getty Images
President Donald Trump has pardoned Binance founder Changpeng Zhao, who had previously pleaded guilty to enabling money laundering while heading the cryptocurrency exchange, the White House said Thursday.
“President Trump exercised his constitutional authority by issuing a pardon for Mr. Zhao, who was prosecuted by the Biden Administration in their war on cryptocurrency,” White House Press Secretary Karoline Leavitt said in a statement.
Zhao in November 2023 pleaded guilty in the case and agreed to step down as Binance CEO as part of a $4.3 billion settlement by the company with the Department of Justice.
He was sentenced in April 2024 to just four months in jail.
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