(José Niño, Headline USA) People close to Changpeng Zhao, the former Binance CEO known as “CZ,” say talks are heating up inside the Trump White House over whether to issue a presidential pardon for the crypto executive, according to reporting from Charles Gasparino, Senior Correspondent at FOX Business.
Zhao, once one of the most powerful figures in digital finance, served time after a 2023 plea deal with the U.S. Department of Justice that forced Binance to pay $4.3 billion in fines.
Sources familiar with the discussions say several of Trump’s senior advisers see the case as politically charged. They describe it as part of what they call the Biden administration’s broader crackdown on cryptocurrency.
SCOOP: People close to @cz_binance, the former @binance chief who spent some time in the can amid the Biden Admin's crackdown on all things crypto, say discussions inside the White House are heating up on the possibility of a pardon from @realDonaldTrump. Many Trump insiders…
— Charles Gasparino (@CGasparino) October 10, 2025
Zhao remains the largest individual shareholder in Binance, and a pardon could pave the way for his return to the company. He founded the exchange in 2017 and expanded it into the world’s leading platform for Bitcoin and crypto trading.
Speculation about a pardon has persisted for months, but sources now believe a decision is nearing.
Bitcoin Magazine noted that Zhao’s 2023 conviction became one of the most high-profile moments in the government’s campaign against major exchanges. U.S. prosecutors accused Binance of facilitating transactions with sanctioned entities and failing to enforce anti-money-laundering controls.
Zhao pleaded guilty, stepped down as CEO, and paid a $50 million personal fine.
He was sentenced to four months in prison and released in September 2024 after serving time in a low-security California facility and later in a halfway house.
According to Bitcoin Magazine, even critics of Binance have questioned the severity of the charges. Trump’s advisers reportedly see Zhao’s case as a chance to highlight what one called a “new era of crypto policy,” emphasizing innovation over punishment.
Gasparino notes that a final decision could arrive by the end of the year, though Trump’s focus remains divided between foreign policy flashpoints involving Gaza, Ukraine, and renewed trade disputes with China. He adds that clemency discussions “often take longer than expected.”
José Niño is the deputy editor of Headline USA. Follow him at x.com/JoseAlNino
