Trump Pardons Former Binance CEO Changpeng Zhao in Crypto Case
Key News Summary:
- President Donald Trump pardoned Changpeng Zhao, former Binance CEO, on October 23, 2025.
- The pardon was a symbolic gesture against previous crypto crackdowns, as Zhao faced no fraud charges or named victims.
- Zhao pleaded guilty to anti-money laundering violations in 2023, served four months in prison, and paid a $50 million fine.
- Binance settled for $4.3 billion, and Zhao was prohibited from running the exchange.
- The White House stated the pardon ends Biden-era hostility towards crypto, aligning with Trump's pro-crypto stance for lighter regulation.
- Analysts see the pardon as a signal of softer U.S. crypto oversight, potentially boosting market confidence.
- In 2025, crypto markets are already buoyed by $26 billion in ETF inflows.
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