Trump Pardons Binance Founder CZ in Historic Crypto Move
In a bombshell announcement, former U.S. President Donald Trump has granted a full pardon to Changpeng Zhao (CZ), the founder of Binance, the world’s largest crypto exchange. The decision, framed as the end of the “war on crypto,” has sparked intense debate among regulators, investors, and lawmakers.
CZ’s Legal Battle: From Prison Sentence to Pardon
Changpeng Zhao, once a dominant force in crypto, faced severe legal repercussions in 2023 after Binance admitted to violating U.S. anti-money laundering laws. As part of a $4.3 billion DOJ settlement, CZ stepped down as CEO and served a four-month prison term—far lighter than many expected. Critics viewed the case as part of a broader U.S. crackdown on crypto, but Trump’s pardon signals a potential policy shift.
Trump’s Pro-Crypto Push: A 2024 Election Strategy?
Trump, who has increasingly courted crypto voters, framed the pardon as a pro-innovation stance. “America must lead the blockchain revolution, not punish its pioneers,” he declared at a Florida rally. The move aligns with his campaign’s acceptance of crypto donations and contrasts sharply with President Biden’s stricter regulatory approach.
Market & Political Reactions
- Crypto Industry Celebrates: Binance’s BNB token surged 15%, while Bitcoin and Ethereum also gained. Coinbase CEO Brian Armstrong called it a “watershed moment.”
- Regulators Push Back: Senator Elizabeth Warren criticized the pardon, warning it could encourage financial misconduct.
What’s Next for CZ and Binance?
Though barred from leading Binance, CZ may re-enter crypto in an advisory or entrepreneurial role. Binance continues operating under DOJ oversight, but the pardon could soften regulatory pressure.
A New Era for Crypto Regulation?
Trump’s pardon highlights crypto’s growing political influence. With the 2024 election looming, the industry faces a pivotal moment: Will deregulation prevail, or will enforcement intensify?
Stay updated on this developing story at NextMinuteNews.
— By [Your Name], Senior Crypto Correspondent, NextMinuteNews
