Binance founder confirms information about pardon request from US president

What’s new? Changpeng Zhao, the founder and former CEO of the largest crypto exchange Binance, has confirmed that he has officially applied for a pardon from the US president. In a May 6 Farokh Radio podcast, Zhao said that his legal team filed the petition already after articles published in media outlets including Bloomberg and WSJ on the topic.

Podcast on YouTube

What else is known?

“If they’re writing this article, I may as well just officially apply,” Zhao added.

The entrepreneur recalled that during his last term, Donald Trump pardoned three executives of crypto exchange BitMEX, including founder Arthur Hayes, which provided additional motivation for the petition. The paperwork was filed about two weeks before the podcast was released, he said.

The billionaire pleaded guilty to violating the Bank Secrecy Act in November 2023 as part of a settlement with authorities. As a result, Binance paid a $4,3 billion fine, with Zhao’s fine totaling $50 million. He was sentenced to four months in prison and barred from holding executive positions at Binance.

While the pardon will not overturn the money laundering conviction, it could potentially pave the way for Zhao to return to a senior position at Binance.US, the US arm of the exchange.

Zhao acknowledged that “no felon would mind a pardon” and added that he may be the only person to have served time for violating the Bank Secrecy Act.

After stepping down as CEO and serving his sentence, Zhao remained a Binance shareholder and said he has no intention of returning to the helm. Speaking at the Binance Blockchain Week event in November, he remarked, “I feel the team is doing well and doesn’t need me back.”

Zhao has shifted his focus to international advisory work, offering advice to the governments of Pakistan and Kyrgyzstan on cryptocurrency regulation and blockchain integration.

After the inauguration, Trump also pardoned Ross Ulbricht, founder of darknet marketplace Silk Road, who was sentenced to life in prison. He made the promise to do so during the election campaign.