US President Donald Trump has pardoned former Binance CEO Changpeng Zhao (CZ).
Deeply grateful for today’s pardon and to President Trump for upholding America’s commitment to fairness, innovation, and justice.
🙏🙏🙏🙏Will do everything we can to help make America the Capital of Crypto and advance web3 worldwide.
(Still in flight, more posts to come.)…
— CZ 🔶 BNB (@cz_binance) October 23, 2025
“Deeply grateful for today’s pardon and [appreciative] to President Trump for supporting America’s commitment to the principles of fairness, innovation, and justice,” Zhao wrote on X.
The Wall Street Journal was the first to report this. According to journalists, the order was signed on October 22. Later, White House Press Secretary Karoline Leavitt confirmed the information.
“President Trump exercised his constitutional powers by pardoning Mr. Zhao, who was prosecuted by the Biden administration as part of their war on cryptocurrencies,” she stated.
Throughout the year, there were numerous rumors about a possible pardon for CZ. However, the businessman repeatedly denied them.
Community Reaction
Many market participants on social media were surprised by the US president’s decision.
Welcome to the club @cz_binance
— Arthur Hayes (@CryptoHayes) October 23, 2025
Support for Zhao and gratitude to Trump were expressed by the current CEO of Binance and the official account of the exchange.
Thank you, @POTUS! The spectacular news of CZ’s pardon is a moment to reflect — not just on his individual journey – but on how far the crypto industry has come.
CZ’s belief in the power of crypto and user empowerment laid the foundation for so much of what exists today.
At…
— Richard Teng (@_RichardTeng) October 23, 2025
“The spectacular news of CZ’s pardon is a moment to reflect not only on his personal journey but also on how far the crypto industry has come. Zhao’s belief in the power of cryptocurrencies and user empowerment laid the foundation for much of what exists today,” Teng noted.
However, investor and entrepreneur Adam Cochran reacted skeptically to the situation. According to him, CZ admitted guilt in sanctions violations and “knowingly allowed” groups like Hamas and Wagner to use Binance.
This is DISGUSTING — even for Trump.
CZ admitted to sanctions violations.
He had knowingly allowed groups like Hamas and Wagner to use Binance.
CZ then:
-Had Binance partner with Trump’s World Liberty Fi on their new stablecoin
-Partnered with Dominari Holdings (which… https://t.co/pJCySwjbZ9 pic.twitter.com/tPQQQkWLi4
— Adam Cochran (adamscochran.eth) (@adamscochran) October 23, 2025
Cochran also pointed out that Zhao and his projects have close ties with the presidential family.
“Trump has made it clear that crime in the US is legal if you can pay him enough — then he will pardon you, even if you have admitted to aiding dangerous terrorist organizations,” Cochran added.
Back in September 2024, Zhao was released from prison. The entrepreneur served a four-month sentence on charges of money laundering and other illegal activities. As part of an agreement with the US Department of Justice, he agreed to pay a $50 million fine and step down as CEO of the exchange.
Binance permanently barred CZ from management. However, the current CEO of the exchange, Richard Teng, noted that he remains the largest shareholder. According to Bloomberg, his stake in the company reaches 90%.