U.S. President Donald Trump has pardoned Changpeng “CZ” Zhao, the co-founder and former CEO of Binance. CZ had pleaded guilty to money laundering in 2024 and was imprisoned for four months.
According to The Wall Street Journal, people familiar with the matter said President Trump signed the pardon today. “Trump recently indicated to advisers that he was sympathetic to arguments of political persecution related to Zhao and others,” the report said.
Binance’s token BNB has seen a sharp spike after the news broke out, surging to the level of $1,150 before calibrating to the current $1,128, marking a 4.5% increase over the past few hours.
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