Trump Pardons Binance Founder Changpeng Zhao, The Crypto Comeback Begins
In a move that sent shockwaves across the crypto world, President Donald Trump has granted a full pardon to Binance founder Changpeng “CZ” Zhao, drawing a dramatic close to one of the most polarizing legal sagas in the industry.
According to the Wall Street Journal, Trump signed the pardon on Wednesday, ending weeks of speculation. People close to the decision say he had grown increasingly convinced that Zhao was unfairly targeted under the Biden administration’s so-called “war on crypto.”
Breaking: President Trump has pardoned Binance founder Changpeng Zhao, whose crypto exchange has been boosting the Trump family's own crypto venture https://t.co/OxksrhgUyJ
— The Wall Street Journal (@WSJ) October 23, 2025
“The War on Crypto Is Over”White House Press Secretary Karoline Leavitt confirmed the decision in a statement that instantly made headlines.
“President Trump exercised his constitutional authority to pardon Mr. Zhao, who was prosecuted in the Biden administration’s crypto war,” she said. Then, she added the line that defined the day: “The Biden administration’s war on crypto is over.”
The message was clear, Trump was drawing a line under the previous administration’s approach and signaling a new, friendlier era for digital assets and innovation in the United States.
Four Months, $4.3 Billion, and a Second ChanceFor Zhao, it’s been a long and humbling road.
He spent four months in prison, stepped down as CEO of Binance, and agreed to pay a $4.3 billion fine for failing to prevent money laundering on the platform. The penalties were some of the harshest the crypto industry had ever seen.
Deeply grateful for today’s pardon and to President Trump for upholding America’s commitment to fairness, innovation, and justice.