James Richardson
According to new reports, discussions within the White House about a potential pardon for Binance co-founder Changpeng “CZ” Zhao are intensifying, signaling a possible shift in the administration’s stance toward crypto-related cases.
Fox Business Senior Correspondent Charles Gasparino revealed on X that individuals close to CZ believe the Trump administration is seriously considering a pardon, describing the case against Zhao as “weak” and “undeserving of a felony conviction and jail time.”
Trump’s Inner Circle Reportedly Supports a Pardon
In May, CZ mentioned during a podcast that he had applied for a pardon from President Trump after being released from prison last year. While The Wall Street Journal reported in March that Zhao had requested a pardon — something he denied at the time — sources now say Trump is leaning toward granting it.
Gasparino noted that the decision could pave the way for CZ’s return to Binance, given that he remains the company’s largest shareholder. However, the White House is said to be concerned about public perception, considering Trump’s growing involvement in the digital assets industry. Members of Trump’s family have launched or supported several crypto-related ventures in recent months.
CZ’s Pardon Odds Surge Following Reports
Following the news, prediction platform Kalshi recorded a sharp jump — over 20% — in the odds of CZ receiving a presidential pardon, highlighting renewed optimism among traders and the crypto community.
Meanwhile, Binance CEO Richard Teng told Axios in September that even though CZ remains the exchange’s largest shareholder, his plea agreement with the U.S. government includes a lifetime ban from managing the firm.
Background: CZ’s Legal Troubles and Release
Changpeng Zhao was sentenced to four months in prison in 2023 after pleading guilty to failing to maintain an effective anti-money laundering program at Binance. As part of the settlement, Zhao paid a $50 million fine, while Binance agreed to a massive $4.3 billion penalty — one of the largest corporate settlements in U.S. history.
Zhao was released last year, and since then, speculation about his potential return to the crypto industry has persisted — speculation that could soon become reality if President Trump grants a full pardon.
