The US is changing course on crypto; Trump pardons Binance founder CZ

Donald Trump, who is adopting a much more lenient stance on the cryptocurrency world than Biden, announced that he has pardoned Binance founder Changpeng Zhao (CZ); this pardon decision signals a new era.

Donald Trump’s return to the White House continues to reshape the US’s relationship with the cryptocurrency world. During Joe Biden’s tenure, the crypto world went through a period of strict regulation and pressure, with giant companies like Binance repeatedly confronting the Washington administration. Binance, which was accused in 2023 of violating anti-money laundering laws, was forced to exit the US market, and the company’s founder, Changpeng Zhao (CZ), received a prison sentence. This process, which became a symbol of the aggressive legal approach targeting crypto, took a very different turn this week. Trump, who prefers to gain dominance over the crypto world rather than oppose it, pardoned Binance founder Changpeng Zhao’s prison sentence.

A statement from the White House argued that Zhao was a “victim of the Biden administration’s anti-crypto policies” and that the decision showed the “war on the crypto industry is over.”

In response, CZ thanked Trump in a post on X, calling the decision a “testament to America’s commitment to innovation.” Following the pardon, the biggest obstacle to Binance’s re-entry into the US, from which it was barred in 2023, has effectively been removed.

Donald Trump is establishing dominance over the Crypto World The pardon of Changpeng Zhao is a reflection of the change taking place during the Trump era. Today, we are facing a very different picture than the period when CZ was sentenced to prison. While Trump is outwardly adopting a much more lenient attitude toward the crypto world, he is also gaining increasing control over this world behind the scenes. This point has been reached through a long-term lobbying process. After Zhao completed his four-month prison sentence in September 2024, Binance lobbied for months in Washington for a pardon and hired specialized lobbying teams for this purpose. Furthermore, the company established a strong political connection with the new administration by supporting the Trump family’s World Liberty Financial venture after Trump’s election. This collaboration has also rapidly increased the personal wealth of the Trump family through their crypto ventures.

The compromise reached at the end of these lobbying efforts may enable both Binance’s return and more aggressive growth for other major exchanges in the US. Thus, the effect of this pardon is likely not to be limited to Binance.

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