Binance’s CZ Pardoned After Pro-Crypto Lobbying Push
Binance CEO Changpeng Zhao secured a full presidential pardon from Donald Trump after a renewed lobbying campaign. The firm resumed lobbying under Trump, spending over $7.1 million to seek executive relief from the White House and Treasury. In September 2024, Binance paid $450,000 to Trump-linked Checkmate Government Relations and $290,000 to crypto lawyer Teresa Goody Guillén in February. Zhao served a four-month sentence for violating U.S. anti-money laundering laws after Binance’s 2023 DOJ plea deal. Critics such as Rep. Maxine Waters condemned the pardon as a favor to crypto criminals. Trump defended his decision, calling Zhao a victim of partisan persecution. The pardon cuts Binance’s regulatory risk and may boost market stability and trader confidence.
Bullish
The presidential pardon removes a major legal overhang for Binance and its CEO. Short-term, it reduces regulatory uncertainty and may trigger a relief rally in BNB. Long-term, Trump’s pro-crypto stance could encourage further favorable policies, boosting institutional and retail participation. However, political backlash may introduce volatility.