YEREVAN (CoinChapter.com) — Former Binance CEO Changpeng Zhao expressed openness to receiving a presidential pardon from Donald Trump. On Dec. 1, Zhao replied to John Lilic, co-founder of TelosX, on X, stating he “wouldn’t mind a pardon.” This comes as Trump prepares to take office on Jan. 20, 2025.
CZ Responds to Pardon Suggestion. Source: X
In November 2023, Zhao pleaded guilty to failing to maintain an effective Anti-Money Laundering (AML) program at Binance. Following his plea, a judge sentenced him to four months in prison, which he completed in September 2024. However, the conviction could hinder his future business activities.
What a Presidential Pardon Means for Zhao
According to the U.S. Department of Justice, a presidential pardon does not remove a conviction but can reduce some associated restrictions. A pardon could help lift certain legal disabilities and improve opportunities for employment or licensing. Despite this, Zhao’s 2023 plea agreement prevents him from managing Binance in any capacity.
Civil Rights Restoration Without a Pardon. Source: U.S. Department of Justice
Zhao clarified his stance in a public post, saying he has “no wish to be CEO again.” Richard Teng, the current CEO of Binance, confirmed in September 2024 that Zhao faces a lifetime ban from managing or operating the crypto exchange.
Donald Trump’s Legal Challenges and Promises
Trump, who won the 2024 U.S. presidential election, has his own legal issues. In May 2024, a New York jury convicted him of 34 felony charges for falsifying business records. The sentencing was delayed due to his election victory, with legal proceedings expected after his inauguration.
Trump has pledged to address high-profile crypto-related cases. He promised to commute the life sentence of Ross Ulbricht, the creator of the Silk Road marketplace, on his first day in office. Ulbricht was sentenced in 2015 for money laundering, computer hacking, and conspiracy to traffic narcotics. However, Trump did not act on Ulbricht’s case during his first term in office.
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