President Trump Forgives Binance Founder Chengpeng Zhao
JAKARTA - The White House announced that United States President Donald Trump had dismissed Binance's crypto exchange founder Chengpeng Zhao for a money laundering case involving him.
Zhao or often called the 'CZ' resigned as Binance leader, after the company pleaded guilty to failing to run an effective anti-money laundering program and paying a fine of US$4.3 billion (Rp71 trillion at an exchange rate of 16,500) in 2023.
Zhao is being sued by Joe Biden's administration in their fight against cryptocurrencies. This pardon is referred to as Trump's attempt to improve the crypto industry in the US, and erase his past mistakes.
Deeply grateful for today’s pardon and to President Trump for upholding America’s commitment to fairness, innovation, and justice. 🙏🙏🙏🙏
Will do everything we can to help make America the Capital of Crypto and advance web3 worldwide.
(Still in flight, more posts to come.)…
— CZ 🔶 BNB (@cz_binance) October 23, 2025
Deeply grateful for today's party and to President Trump for upholding America's commitment to fairness, innovation, and justice.
Will do everything we can to help make America the Capital of Crypto and advance web3 worldwide.
(Still in flight, more posts to come...)
In a post on social media platform X, Zhao said he was "deeply grateful for today's pardon and to President Trump for his support for America's commitment to justice, innovation and justice."
He also added, "Will do everything we can to help make America the capital of Crypto".
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For information, Zhao has also admitted his mistake in November 2023 regarding violations of the United States anti-money laundering provisions.
The indictment against Binance arose as a result of their failure to register as a money forwarding business and other violations related to the Bank Secretariat Law (BSA) and the International Emergency Economic Power Act (IEEPA).