The White House has defended the presidential pardon of Changpeng Zhao (CZ), founder of Binance, stating the decision reflects a broader policy reset after what it described as the previous administration’s ‘war on crypto’. The pardon follows Zhao’s guilty plea in 2023 to violating anti-money-laundering regulations and a four-month prison sentence.
A White House spokesperson emphasised that the clemency supports America’s leadership in innovation and digital finance, alleging that the case against Zhao was politically driven. While the pardon technically clears his criminal record, regulatory agreements remain in place restricting his involvement with Binance.
The move has sparked bipartisan concern over potential conflicts of interest, regulatory oversight, and the precedent it sets for crypto industry enforcement. Stakeholders say the decision could reshape how U.S. regulators approach high-profile crypto cases going forward.