The move follows what Trump called “political persecution” by the Biden administration.
He framed the case as part of a broader battle over innovation, regulation and fairness in digital finance.
A controversial pardon
Speaking at a press briefing, Trump said he “does not know Changpeng Zhao and has never met him” but decided to act after receiving “recommendations and support from many good people.” He stressed that the case against CZ, who pleaded guilty to compliance violations in 2023, was “not a crime, but persecution.” The White House confirmed the pardon on Thursday, with press secretary Karoline Leavitt declining to say whether she had any ties to the Trump family’s crypto projects.
CZ’s case became one of the most high-profile regulatory actions in crypto history. Binance, the world’s largest cryptocurrency exchange by trading volume, paid a $4.3 billion settlement last year after U.S. regulators accused it of allowing users to circumvent compliance rules. Zhao served a short sentence and resigned as CEO, marking what many saw as the start of a new chapter for crypto oversight in the United States.
Trump’s pardon has divided public opinion. Its supporters see it as opposition to excessive regulation and its politically motivated enforcement. Critics say this undermines accountability in a rapidly changing financial sector where transparency remains a growing concern.
A change in crypto policy
The pardon also reflects a broader shift in American policy. Trump has increasingly spoken out in favor of supporting digital assets, presenting crypto as a tool for freedom and innovation. One example is that some major blockchain companies, including Coinbase, Ripple, Gemini and Tether, are joining forces with Apple and Amazon to support former President Donald Trump’s new ballroom project at the White House.
Crypto giants fund Trump’s $300 million White House project
Coinbase, Ripple, Gemini and Tether are backing Trump’s new White House ballroom alongside Apple and Amazon.
Why it’s important:
Crypto now has real political influence. These links could shape regulations and institutions… pic.twitter.com/nOg5hY2BG6-Crypto Patel (@CryptoPatel) October 24, 2025
The initiative, described as a symbol of “American innovation and excellence,” aims to host global technology and financial events once completed. Industry observers see it as a sign that major crypto companies are seeking closer ties with traditional corporate giants and the U.S. political establishment, which could shape future discussions on blockchain adoption and digital asset regulation.
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