Overview
- Fox Business reporter Charles Gasparino says internal talks have intensified and that President Trump is leaning toward granting a pardon to Changpeng “CZ” Zhao.
- Justice Department clemency records and company statements indicate no pardon has been issued to Zhao at this time.
- Advisers are divided over the proposal, with concerns about optics tied to Trump family crypto dealings and possible regulatory backlash, according to multiple reports.
- Zhao pleaded guilty in 2023 to a Bank Secrecy Act violation, paid a $50 million fine, served four months in prison, and Binance paid $4.3 billion under a DOJ settlement.
- A pardon would erase the felony from Zhao’s record and restore many U.S. business and travel rights, but existing agreements and an independent monitor still bar him from a management role at Binance.