CZ urges Trump to pardon money laundering conviction

Binance’s founder, CZ, reportedly requested that President Trump issue a pardon for a money laundering conviction.

After initially denying it, CZ confirmed that he did request a pardon from Donald Trump for his conviction related to money laundering.

Speaking on the Farokh Radio podcast on May 6, CZ, known as Changpeng Zhao, revealed that he “wouldn’t mind” receiving a pardon, and his legal team had already filed the required paperwork.

Zhao shared, “I got lawyers applying,” and noted that he submitted the pardon request after Bloomberg and The Wall Street Journal reported in March on his efforts to secure a pardon from Trump in connection with talks of a business deal between the Trump family and Binance.US.

While Zhao had denied the reports earlier, he shared on the podcast that he felt, “If they’re writing this article, I may as well just officially apply.”

He pointed out that Trump’s decision to pardon Arthur Hayes and the BitMEX founders influenced his decision to file for a pardon.

According to Zhao, he turned in the application about two weeks ago.

Zhao, reacting to the media reports from Bloomberg and the Wall Street Journal, stated that “no felon would mind a pardon” while also claiming that he is the first person in American history to be imprisoned for a Bank Secrecy Act charge.

In November 2023, Changpeng Zhao admitted guilt to a money laundering charge as part of Binance’s settlement with U.S. authorities, which included a $4.3 billion fine—$50 million of which Zhao personally paid—and led to his resignation as CEO.

Zhao’s plea agreement resulted in a four-month jail sentence and a ban on any future employment at Binance.

In the United States, the President has the authority to issue pardons to those convicted of crimes. While a pardon will not effectively erase Zhao’s money laundering conviction from his record, it could potentially allow him to return as CEO of Binance.US.

In early December 2024, CZ stated he was open to a pardon from President Trump as a response to a suggestion from a member of the Telos Foundation that Trump should pardon the former Binance CEO.

However, while speaking on the podcast, CZ noted that his pardon request doesn’t reflect a desire to lead Binance again, stating, “I’m not really looking to become CEO of Binance again.”

“I feel the team is doing well and doesn’t need me back,” Zhao said.

Nevertheless, Zhao still holds a dominant position at Binance, with an estimated 90% ownership in the world’s leading cryptocurrency exchange.