Changpeng Zhao (known by his initials CZ), former CEO of cryptocurrency exchange Binance, was recently granted a presidential pardon by U.S. President Donald Trump – this development could pave the way for Binance’s potential reentry into U.S. markets.
Conviction History on Confrontations Charge
In 2023, Zhao plead guilty to Bank Secrecy Act violations for failing to implement an effective anti-money laundering program at Binance. As a result, he was sentenced to four months in jail and agreed to pay a $50 million fine; Binance itself faced a $4.3 billion penalty as part of the settlement agreement. Reuters
The Implications of Pardon
On October 23, 2025, President Donald Trump issued a pardon for Zhao to overturn his criminal conviction and to respond to what the administration termed as its war on cryptocurrency (i.e. the Biden Administration’s campaign against cryptocurrency). White House Press Secretary Karoline Leavitt noted that this pardon came about in response to this war by Biden administration and its efforts at regulation versus blockchain-related technologies such as cryptocurrency.
Zhao expressed his appreciation to President Trump, noting: “I am immensely grateful for today’s pardon and for upholding America’s commitment to fairness, innovation and justice.
Reuters. There Could Be Hope For Binance’s Return To U.S.
Binance’s operations in the United States will now face less legal obstacles following Zhao’s pardon, with its operations likely resuming in earnest within days of this news. Industry analysts have observed that Zhao’s pardon could reignite discussions of Binance returning to U.S. markets and revive discussions around tradingView’s potential return.
Industry Reactions
The pardon has caused mixed responses within the cryptocurrency community and beyond. Some see it as a positive move toward supporting innovation and growing the U.S. crypto industry; whereas, others express concerns over implications for regulatory oversight or message it sends about accountability.
President Trump’s decision to pardon Changpeng Zhao marks a watershed moment for both him and the cryptocurrency industry as a whole. With ongoing conversations surrounding Binance’s presence in America, key stakeholders will closely be monitoring any developments which might have an effect on markets or regulations in America.
