Changpeng Zhao (CZ), the founder of cryptocurrency exchange Binance, is reportedly seeking a presidential pardon from President Donald Trump's administration.

According to a Wall Street Journal report, representatives of the Trump family have engaged in discussions about acquiring a financial stake in Binance's U.S. branch, Binance.US.

These discussions are allegedly linked to Zhao's efforts to secure a pardon following his 2023 guilty plea to violating U.S. anti-money laundering regulations, which resulted in a $4.3 billion settlement. ​

Previous Presidential Pardons

The potential pardon for CZ brings to mind previous high-profile pardons related to the cryptocurrency and tech industries. Notably, on January 21, 2025, President Trump granted a full and unconditional pardon to Ross Ulbricht, the founder of the darknet marketplace Silk Road.

Ulbricht had been serving a double life sentence plus 40 years without the possibility of parole since 2015 for his role in operating the online platform, which facilitated the sale of illicit goods using Bitcoin.

Trump's decision to pardon Ulbricht fulfilled a campaign promise made to the Libertarian Party and was celebrated by libertarian activists and cryptocurrency enthusiasts who viewed Ulbricht as a pioneer in the digital currency space. ​

Another recent example involves Sam Bankman-Fried, the founder of cryptocurrency exchange FTX, who initiated a campaign seeking a presidential pardon from Trump.

Following the collapse of FTX and his subsequent fraud conviction, Bankman-Fried developed a strategy involving public relations efforts to bolster his support for Trump's agenda.

Despite being in prison, he coordinated with legal advisors and his parents to lobby for a pardon, highlighting his contributions to both Democratic and Republican causes. His campaign coincided with a shift in Trump's stance towards cryptocurrency, marked by Trump's recent crypto summit at the White House. ​

As the situation develops, it remains to be seen whether CZ's reported efforts to secure a presidential pardon will be successful. The outcome could have significant implications for Binance's operations in the United States and the broader cryptocurrency industry.​