Changpeng “CZ” Zhao, former CEO of Binance, is reportedly the subject of internal White House discussions regarding a potential presidential pardon, according to sources cited by the New York Post. Zhao pleaded guilty in late 2023 to a single Bank Secrecy Act violation tied to insufficient anti–money laundering controls during his leadership.
A pardon would remove legal barriers currently preventing him from engaging with regulated U.S. financial entities and could ease state-level restrictions affecting Binance.US. Industry advocates argue that Zhao was unfairly targeted during the previous administration’s broader crypto enforcement wave. Binance has already paid $4.3 billion in fines and adopted new compliance measures, while Zhao paid $50 million and resigned as CEO.
Many crypto industry leaders view the case as excessive when compared to scandals like FTX, which involved fraud. There has been no official comment from the White House or Zhao’s legal team, although Zhao reacted positively to the report on X.
Source: New York Post: https://nypost.com/2025/10/12/business/possible-pardon-for-ex-binance-ceo-sparking-fierce-white-house-debate/
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