White House Defends Pardon of Binance Founder Changpeng Zhao
- The White House reviewed Changpeng Zhao’s pardon request thoroughly before it reached President Trump.
- Zhao was sentenced to four months in jail for failing to maintain an effective Anti-Money Laundering program at Binance.
- Trump stated he had “no idea” who Zhao is and criticized the backlash against the pardon as politically motivated.
- Press Secretary Karoline Leavitt claimed Zhao was over-prosecuted by a “weaponized DOJ.”
- Zhao’s supporters argue that his sentence was excessive for a non-violent first-time offender.
The pardon has sparked debate about the treatment of cryptocurrency figures and the perceived political motivations behind it, especially following reports linking Binance to Trump family ventures.
With Trump asserting that the US remains “number one in crypto,” this pardon signals a significant stance on regulatory approaches within the industry, particularly after Zhao’s four-month jail term for compliance failures at Binance. (Source)
