Trump Pardons Binance Founder Changpeng Zhao
US President Donald Trump has pardoned Changpeng Zhao, the billionaire founder of cryptocurrency exchange Binance, less than two years after Zhao pleaded guilty to money-laundering violations in the United States.
The White House confirmed the pardon on Thursday, with spokesperson Karoline Leavitt saying Trump was “ending the Biden Administration’s war on cryptocurrency.” Zhao, one of the most influential figures in the digital asset industry, had served four months in federal prison and stepped down as Binance CEO after the company agreed to a $4.3 billion settlement with US authorities over compliance breaches.
Zhao visited Malta in 2018, shortly after the country introduced a series of blockchain-friendly laws designed to attract crypto companies.
Earlier this month, Binance became the subject of controversy in Malta after it was revealed that the Malta Community Chest Fund (MCCF) had refused a long-stalled cryptocurrency donation from the company that has since grown in value to around $39 million.
The donation, originally worth about $200,000 (€172,000) in 2018, was turned down over reputational and structural concerns, with former MCCF chair Marlene Mizzi describing the agreement as “very one-sided” and “not acceptable.”
The issue has divided Maltese political figures. Prime Minister Robert Abela suggested the MCCF had acted “too hastily” in rejecting the funds, while Opposition Leader Alex Borg argued that “the money could do a lot of good.”
Finance Minister Clyde Caruana, however, backed President Myriam Spiteri Debono’s decision, saying: “You either donate to charity, or you don’t. You don’t dance around it.”
Zhao’s pardon — and the renewed attention on Binance’s Malta connection — come amid Trump’s broader embrace of cryptocurrency since returning to office. The administration has introduced a national Bitcoin reserve and rolled back investigations into several crypto companies, positioning the United States as a global centre for digital assets.