Yesterday, the US President officially pardoned Changpeng “CZ” Zhao, the former CEO of Binance, who was convicted in 2023 for money laundering compliance violations. This decision sends a clear message: under Trump, America aims to be the “global capital of cryptos” once again.
Trump’s Presidential Pardon as a Pro-Crypto Manifesto
During a press briefing, Donald Trump claimed he acted “at the request of many good people,” stating that he believed CZ was “persecuted by the Biden administration.”
I don’t know him, I don’t think I’ve ever met him, but I was told he had a lot of support and that what he did wasn’t even a crime.
This pardon marks the end of a legal saga that has left its mark on the history of crypto. Sentenced to four months in prison and released in September 2024, CZ had pleaded guilty a year earlier to not having an effective anti-money laundering system. Binance, his empire, received a record $4.3 billion fine, while CZ personally paid $50 million.
CZ Thanks and Promises to “Make America the Capital of Cryptos”
A few hours after the announcement, CZ expressed gratitude, saying, “I am deeply grateful. We will do everything we can to help make America the global capital of cryptos.” A message illustrating the ongoing political shift in Washington. Since his return to power, Trump has been sending pro-crypto signals: he previously signed an order in January releasing Ross Ulbricht, creator of Silk Road, sentenced to life.
BNB and WLFI Benefit from the Announcement
The markets immediately reacted to the presidential decision. The BNB token, associated with Binance, surged by 5% in 24 hours, while the WLFI, the token of the World Liberty Financial project supported by Trump, soared by over 15%. A timing that raises eyebrows: earlier this year, The Wall Street Journal reported that World Liberty Financial had discussed a partial acquisition of Binance.US, while CZ was already seeking a presidential pardon. Rumors labeled as “politically motivated” at the time.
Six weeks later, MGX, based in Abu Dhabi, announced the integration of World Liberty’s USD1 stablecoin in a $2 billion deal with Binance.
A New Political Era for American Crypto
This pardon signifies a symbolic turning point: after years of tensions between regulators and industry giants, the White House seems determined to put the US back at the center of the global crypto game. However, it also reignites accusations of “crypto-politics.” Just last week, Sam Bankman-Fried, the ousted founder of FTX, claimed that his 2022 arrest had been “politically motivated” by the Biden administration.
Another presidential pardon to come…?
