Just months after finishing a four-month prison sentence, Binance founder Changpeng Zhao (CZ) is back in the spotlight – and not quietly. On May 7, 2025, he officially filed a request for a U.S. presidential pardon, hoping President Donald Trump will clear his name.
Zhao was convicted in 2024 for violating U.S. anti-money laundering laws. Now, with crypto regulation shifting under Trump’s pro-business policies, CZ is making a bold move to rewrite his story – and maybe reenter the industry in a big way.
Zhao’s legal troubles led to a historic $4.3 billion penalty for Binance and forced him to step down as CEO. The core issue? Weak anti-money laundering systems that allowed suspicious transactions to slip through.
By filing for a pardon, he’s clearly aiming to reclaim his status in the crypto world. It’s a calculated step that could help him reset his public image – from convicted exec to crypto pioneer wronged by a broken system.
Will it play out how he intends it to?
In a recent interview, Zhao made it clear – he’s a fan of Trump’s leadership style. He praised the former president for treating global diplomacy like a business negotiation, saying it’s more practical and honest than traditional politics.
And for good reason! Trump’s second term has brought a more crypto-friendly approach, and Zhao’s public support could be a strategic way to align himself with that energy. With Trump in office, Zhao is clearly betting on a second chance – politically and professionally.
“It’s not your typical geopolitical-style negotiation. It’s actually a very typical business type of negotiation. In business, you go super high, then go low, then high again – you fluctuate until you eventually land at a spot that works. That’s very common in the business world.”
However, not everyone sees this as a win. Critics say granting a pardon could hurt ongoing efforts to regulate crypto more strictly and hold bad actors accountable. Regulators will likely view CZ’s move as controversial, especially so soon after his sentencing.
Zhao’s pardon request is also putting a spotlight back on Sam Bankman-Fried (SBF), the former FTX CEO who’s now serving a 25-year sentence for fraud tied to FTX’s collapse.
Sources say SBF’s family and legal team have been quietly pushing for a Trump pardon too. But unlike CZ, SBF faces a bigger uphill battle. His fall triggered massive losses for everyday investors, and he’s seen as a cautionary tale across the industry.
Still, if Trump approves Zhao’s request, it could set a surprising precedent and SBF might try to follow the same path.
Yes, SBF’s legal team is reportedly exploring a pardon, but his case is more severe due to massive investor losses.
Changpeng Zhao was convicted in 2024 for failing to maintain proper anti-money laundering controls at Binance.
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