Trump Pardons Binance Founder Zhao After Prison Term

Published 10 hours ago

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Above: Changpeng Zhao, former CEO of Binance, at federal court in Seattle on April 30, 2024. Image copyright: David Ryder/Bloomberg/Getty Images

The Spin

Republican narrative

This pardon corrects a massive injustice from Biden's anti-crypto crusade. Unlike actual fraudsters who stole customer funds, Zhao ran a legitimate exchange where withdrawals always worked — his only violation was compliance paperwork, not real criminal behavior. Trump has upheld his commitment to innovation and justice.

Sasha Hodder on X

CZ on X

Democratic narrative

Trump's pardon of a convicted money launderer, who enabled terrorist financing, is just the latest example of criminals gaining clemency by being the president's business partner. This instance of brazen corruption came after Binance struck a deal with Trump's crypto company, generating tens of millions annually for the Trump family.

Tommy Vietor on X The New York Times

Cynical narrative

The presidential pardon power should be abolished. For far too long, presidents from both political parties — through a quirk in history — have had a get-out-of-jail-free card to use at their whims, leaving open the door to blatant corruption when in the wrong hands.

Elissa Slotkin on Facebook