President Donald Trump has pardoned Binance cryptocurrency exchange founder Changpeng Zhao, who had pleaded guilty to money laundering charges in 2023.
Oct. 23 President Donald Trump has pardoned Binance cryptocurrency exchange founder Changpeng Zhao, who had pleaded guilty to money laundering charges in 2023.
The guilty plea was part of a $4.3 billion settlement between Binance and the Justice Department to end the investigation into the world’s largest cryptocurrency exchange, CBS News reported.
Binance paid the settlement after the DOJ determined it helped users to get around federal sanctions.
The settlement required Zhao to resign from his position as Binance’s chief executive officer and serve four months in prison.
The Binance settlement also caused the Philippines to order Google and Apple to remove the Binance app from their respective app offerings.
