Nigeria TV Info – Trump Pardons Binance Founder Changpeng “CZ” Zhao Amid Cryptocurrency Controversy

Washington, D.C. – In a major development in the cryptocurrency world, former U.S. President Donald Trump has officially granted a pardon to Changpeng “CZ” Zhao, the founder of Binance, the world’s largest cryptocurrency exchange. Zhao had previously pleaded guilty to charges linked to enabling money laundering through the platform, the White House announced on Thursday.

“President Trump exercised his constitutional authority by issuing a pardon for Mr. Zhao, who was prosecuted by the Biden Administration in their war on cryptocurrency,” White House Press Secretary Karoline Leavitt said in a statement.

Zhao’s legal challenges originated from a high-profile case brought by the Biden Justice Department, which accused Binance of failing to maintain adequate anti-money-laundering controls. The case had become a central point in ongoing debates over cryptocurrency regulation in the United States.

The pardon is seen as a strategic move by Trump to reinforce his stance as a pro-crypto advocate, often criticizing the Biden administration’s policies as overly aggressive and restrictive to innovation in the digital currency sector.

As of now, neither Binance nor Zhao has released an official statement regarding the pardon.