Will #Trump extend presidential pardon to Binance’s #CZ ? 2 strong reasons it might happen

As Donald Trump returns to the US presidency again, his pro-crypto stance has sparked optimism for Binance. IOHK founder Charles Hoskinson and crypto advisor and VC John Lilic are calling for a pardon for Binance founder Changpeng Zhao.

Many hope that the crypto industry will mature at least in the regulatory framework under pro-crypto administrators. This could cut short financial windfalls for regulated businesses in the sector. However, its impact on Binance is speculative at best at the time of writing.

🔸 Why are there calls for a Presidential Pardon for CZ?

A Presidential Pardon is a legal act. In the US, the POTUS has the power to forgive a person for a federal crime. Well, it doesn’t mean they will automatically become innocent. The act just removes legal consequences like jail time or fines.

Cardano and IOHK founder Charles Hoskinson and crypto-economic builder and VC John Lilic are backing a plea urging incoming US President Donald Trump to pardon Binance founder Changpeng Zhao. Lilic argues that CZ’s leadership is important for the crypto industry while describing him as a victim of “lawfare”—a misuse of legal systems to bring down opponents.

In the past, crypto advocate Max Keiser alleged that Sam Bankman-Fried, the disgraced founder of FTX would get a presidential pardon by incriminating CZ. In April, Changpeng Zhao received a four-month prison sentence for allowing criminal trades on Binance. He was released in September. After the guilty sentence in November 2023, CZ had to step down as the CEO of Binance.

SBF will throw CZ under the bus and then he’ll get a Presidential pardon.— Max Keiser (@maxkeiser) October 28, 2023

In the interim, SBF remains in jail completing his 25-year sentence for multiple criminal accounts and fraud charges. Over the months, commentators have argued that CZ has been unfairly targeted amid shifting regulatory policies, while SBF continues to face serious accusations of fraud and financial misconduct.