A Surprising Twist in the Crypto World: Trump Pardons Binance's CZ
Unexpected Move Shakes Crypto World
President Donald Trump has done something unexpected. He pardoned Changpeng "CZ" Zhao, the founder of Binance. This news shook the crypto world. Zhao had been in prison for four months. He admitted to not following anti-money laundering rules at Binance.
Part of a Larger Crackdown
This case is part of a bigger story. The U.S. government has been cracking down on crypto. Binance agreed to pay a huge fine. They admitted to breaking laws. These included:
- Helping users avoid sanctions
- Operating without proper registration
Justice Department vs. Trump's Team
The Department of Justice wanted Zhao to spend three years in prison. They said he ignored financial rules. But Trump's team sees it differently. They think the Biden administration targeted Zhao unfairly. They claim it was a political move against the crypto industry.
White House Confirmation
White House press secretary Karoline Leavitt confirmed the pardon. She said Trump used his constitutional power. She also said there were no allegations of fraud or victims. This makes the case even more interesting.