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Donald Trump Pardons Changpeng Zhao, Sparks Criticism
Last Updated: October 23, 2025
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Key Takeaways
- President Donald Trump pardoned Binance founder Changpeng Zhao, who had admitted guilt in a money laundering case;
- Reports stated that President Trump’s crypto project gained $4.5 billion through a platform connected to Binance;
- The White House defended Zhao’s pardon, while Senator Elizabeth Warren called it political favoritism.
President Donald Trump has officially pardoned Changpeng Zhao, the founder of the crypto exchange Binance.
The pardon comes after reports revealed that President Trump’s cryptocurrency project had received support from a trading platform linked to Binance.
According to The Wall Street Journal, this partnership helped the Trump-affiliated venture raise about $4.5 billion since the 2024 election.
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White House Press Secretary Karoline Leavitt stated that Zhao was targeted unfairly during the Biden administration’s efforts to regulate the crypto industry. She said:
Mr. Zhao was not accused of fraud or causing direct harm to anyone.
Leavitt also noted that the prison sentence proposed by prosecutors exceeded normal guidelines and surprised even the judge handling the case.
Zhao shared in a post on X that he was thankful for the decision. He promised to continue promoting cryptocurrency in the US and globally.
Senator Elizabeth Warren described the pardon as an example of political favoritism. She pointed out that Zhao admitted guilt, later backed a Trump-linked crypto effort, and later received a pardon.
Warren urged lawmakers to take stronger action in upcoming financial legislation to prevent what she described as misconduct.
Recently, Journalist Charles Gasparino reported thhat Zhao may receive a presidential pardon. What did he say? Read the full story.
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