Overview

• Multiple outlets, citing FOX Business reporting, say internal deliberations have intensified and President Trump is leaning toward granting clemency to Zhao, with timing still uncertain.
• Zhao pleaded guilty in 2023 to Bank Secrecy Act violations, served four months in 2024, paid a $50 million personal fine, and Binance paid $4.3 billion under a DOJ settlement.
• Supporters inside the administration frame a pardon as a signal of a friendlier crypto policy, while skeptics warn about the perception issues given Trump’s growing links to the sector.
• Zhao’s lawyers have submitted a clemency petition following earlier public pushback on reports that he was seeking a pardon.
• A pardon would clear the felony from Zhao’s record, though reports differ on whether separate regulatory agreements would still block a return to a management role at Binance.