Binance founder Changpeng Zhao confirmed that he filed a formal request for a Trump pardon regarding his money laundering conviction. Speaking on the Farokh Radio podcast released May 6, Zhao said his lawyers had already submitted the application.
The Binance founder said he acted after reports from Bloomberg and The Wall Street Journal claimed in March that he was seeking a Trump pardon. At the time, he denied the reports. However, Zhao said on Farokh Radio,
“If they’re writing this article, I may as well just officially apply.”
Zhao added that he “wouldn’t mind” receiving a pardon and confirmed the paperwork was filed roughly two weeks earlier. He also pointed to the BitMEX pardon granted by Donald Trump in 2021 as a reason behind his decision.
Zhao Calls Out Rare Use of Prison Sentence for Bank Secrecy Act Violation
Changpeng Zhao referred to his legal case as highly unusual. He said,
“No felon would mind a pardon,”
and added that he believes he is the only person in U.S. history to serve prison time for violating the Bank Secrecy Act.
In November 2023, the Binance founder pleaded guilty as part of a deal with U.S. prosecutors. He was charged with failing to implement proper anti-money laundering controls. The agreement required Binance to pay $4.3 billion, and Zhao personally paid $50 million. As part of the plea, he stepped down as Binance CEO.
A U.S. court later sentenced Zhao to four months in prison. The plea terms also barred him from holding any leadership position at Binance. Despite this, Zhao remains a shareholder in the company.
According to the U.S. Department of Justice, a Trump pardon would not erase the money laundering conviction. However, it could allow Zhao to return to a management or operational role at Binance.US.
No Plans to Resume Binance CEO Role After Prison
Changpeng Zhao stated he does not intend to become Binance CEO again. During a public appearance at Binance Blockchain Week in November 2024, he said,
“I feel the team is doing well and doesn’t need me back.”
CZ Publicly Addresses Trump Pardon at Binance Blockchain Week. Source: Binance Blockchain Week Dubai 2024
Since leaving prison, Zhao has taken up advisory roles abroad. He is currently involved in crypto policy work in Pakistan and Kyrgyzstan. In both countries, he helps develop frameworks for blockchain regulation and digital asset management.
Meanwhile, the Trump pardon application remains pending. Zhao did not confirm whether there had been any direct contact with Donald Trump or his staff. The Farokh Radio episode did not include updates on the status of the application beyond confirming the submission.
Trump’s BitMEX Pardon Sets Background for Zhao’s Request
Zhao’s comments referenced the January 2021 decision by Donald Trump to pardon BitMEX co-founders Arthur Hayes, Samuel Reed, and Benjamin Delo. Like Zhao, they had pleaded guilty under the Bank Secrecy Act.
This prior BitMEX pardon has drawn comparisons to Zhao’s case, though no official statement has been issued by the Trump team. Zhao mentioned the BitMEX pardon as a reason that filing his own request made sense.
The Binance founder did not disclose whether any discussions had taken place between Trump’s family and Binance.US. Media reports in March claimed that such discussions may have occurred. Zhao’s statements did not address or confirm these reports directly.
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