Many positive changes are expected in the crypto sector under Donald Trump’s policies. Former Binance CEO Changpeng “CZ” Zhao has indicated he is open to a presidential pardon, although he has no intention of returning as CEO of the leading crypto exchange.
The discussion about a possible pardon arose after President Joe Biden recently pardoned his son, Hunter Biden. CZ pleaded guilty last year to money laundering charges. He subsequently resigned as CEO and was given a lifetime ban from managing or operating Binance. After a four-month prison sentence, which he completed in September 2024, CZ is now focusing on investments in artificial intelligence (AI).
Imprisonment
The Binance founder was sentenced to four months in prison on April 30, 2024. In November 2023, CZ pleaded guilty to the charges, leading to his eventual sentence. On Friday, September 27, 2024, he was released from a correctional facility in California, two days ahead of schedule. This was in accordance with Federal Bureau of Prisons regulations, which allow early release when the official date falls on a weekend.
Trump’s crypto policy
In the United States, a president has the power to expunge criminal convictions through a pardon. This would mean that CZ could again play an active role at Binance. Many crypto enthusiasts see former President Donald Trump as a logical choice to pardon CZ due to his outspoken pro-crypto policies.
Trump has repeatedly promised to end the “crypto crackdown” and introduce more favorable regulations. In addition, he has announced plans to establish a strategic Bitcoin (BTC) reserve and further US dominance in mining.
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Source: https://newsbit.nl/mogelijk-gratie-voor-cz-onder-donald-trump/
