Former Binance CEO Changpeng “CZ” Zhao has expressed his openness to receiving a federal pardon from United States President-elect Donald Trump. This statement came during a December 1 exchange on the social media platform X with TelosX co-founder John Lilic, where Zhao mentioned he “wouldn’t mind a pardon.” The presidential inauguration of Donald Trump, set for January 20, marks his return as the 47th US president.
In November 2023, Zhao entered a guilty plea to a felony charge related to inadequacies in Binance’s Anti-Money Laundering (AML) controls. This plea was part of a broader settlement with legal authorities, which also led to his resignation as CEO of Binance. Following his plea, Zhao was sentenced to four months in prison, and although released in September, the conviction continues to impact his professional engagements and business opportunities.
The U.S. Justice Department notes that while a presidential pardon would not erase Zhao’s conviction, it would aid in lifting some legal restrictions and potentially reduce the stigma associated with the felony, thus helping in obtaining licenses and employment.
Zhao’s Role Post-Binance
Post-resignation, Zhao has maintained a consultancy role with Binance, stating his lack of interest in returning to any executive position. Richard Teng, Zhao’s successor, noted in September that Zhao is under a lifetime ban from managing or operating the crypto exchange, indicating that even a presidential pardon would not likely change his role at Binance.
Simultaneously, Donald Trump faces legal challenges of his own, having been found guilty by a New York jury of multiple felony charges related to financial document falsifications concerning payments to adult film star Stormy Daniels. This historic conviction, marking the first for a current or former U.S. president, has complicated his upcoming presidency. His sentencing was postponed post-election until after the inauguration, amidst ongoing legal battles over these charges.
Promises to the Crypto Community
During his campaign, Trump did not specifically mention Zhao, but he did address the cryptocurrency community with promises such as commuting the sentence of Ross Ulbricht, the Silk Road marketplace founder sentenced to life imprisonment in 2015. Trump has expressed intentions to take action on this matter on his first day in office, although similar promises in his previous term were not fulfilled.
| Date | Event |
|---|---|
| Nov 2023 | Zhao pleads guilty, resigns as CEO of Binance |
| Dec 1, 2024 | Zhao expresses openness to a presidential pardon |
| Jan 20, 2025 | Scheduled inauguration of Donald Trump |
| Ongoing | Legal proceedings and public discussions |
The intertwining of high-profile legal cases with political careers highlights a complex dance between justice and power. As figures like Zhao seek redress or mitigation through political avenues, and leaders like Trump face their own legal reckonings, the interplay continues to shape public perceptions and trust in both the legal and political spheres. While the potential pardons and legal interventions discussed may offer personal relief to the individuals involved, they also raise broader questions about fairness and the role of personal influence in judicial outcomes. As these stories unfold, they remind us that in politics and justice, the personal is indeed political.
Featured image credit: Web Summit via Flickr
Follow us for more breaking news on DMR