Overview

• White House discussions have intensified on clemency for Zhao, with multiple reports saying Trump is leaning toward a pardon that has not been announced.
• Several Trump allies portray the DOJ case as politically driven, according to FOX Business reporting.
• Some aides caution that pardoning a prominent crypto executive could raise conflict-of-interest concerns tied to Trump’s business relationships in the sector.
• A pardon could clear the way for Zhao to reengage with Binance, where he remains the largest shareholder.
• Zhao pleaded guilty in 2023, Binance paid $4.3 billion, he paid $50 million and served four months, and sources say a decision could come before year’s end though the timing remains uncertain.