Trump pardons founder of Binance: what this means for the crypto industry.

According to inkorr.com: U.S. President Donald Trump pardoned the founder of the world's largest cryptocurrency exchange Binance, Changpeng Zhao, who had previously been convicted of violating anti-money laundering laws. This was reported by 'Glavcom' citing Bloomberg.

Trump saves Zhao

Concern in the White House regarding Zhao's pardon, who faced prison for financial violations. White House Press Secretary Caroline Leavitt explained that the president decided to intervene in this case to protect him from prosecution, given Zhao's ties in the crypto world through the Biden administration.

Other potential pardons

Prior to this, the president had other pardon options related to the former U.S. policy on cryptocurrencies. Silk Road founder Ross Ulbricht and the creators of BitMEX were also on Trump's radar.

Trump's comments

At a briefing, Trump stated that agreeing to pardons is not that difficult, especially amidst global discussion. In other words, Zhao had significant support that protected his interests.

Zhao's trial

In April 2024, the founder of Binance was convicted for dubious financial actions that prosecutors believed threatened national security. Researchers are already contemplating how serious the violations were and whether they truly posed a threat to the country.

Agreement on the death penalty

It is also worth noting that recently Trump agreed to the use of the death penalty in Washington, presenting it as an effective means of crime prevention.

Currently, officials at all levels are actively discussing the situation related to cryptocurrencies. Zhao's pardon could be a turning point in relations between the crypto industry and government entities, where numerous debates and changes in legislation are likely still ahead.