Former CEO of Binance, Changpeng Zhao, who owns the world’s biggest cryptocurrency exchange has been pardoned by President Trump.

The move has led to many speculations and some outrage as some feel that this was not necessary and certainly called out the American head of state for making the very risky move.

The news comes a day after the White House denied claims that Trump would soon be pardoning disgraced rapper P.Diddy, but some feel this might hint at how even that might be happening very soon.

Zhao pleaded guilty in 2023 to a federal money laundering charge for failing to maintain an effective anti-money laundering program. He resigned as CEO of Binance and later served a four-month prison sentence in 2024.

The pardon was first reported by the Wall Street Journal through White House press secretary who stated that this action ends the Biden Administration’s war on crypto.

She praised the decision and called it a supporting innovation. Zhao responded through social media, thanking the president and pledging to help make America great again as well as the capital of the world of crypto.