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iemanja

(57,156 posts) Thu Oct 23, 2025, 01:35 PM Oct 23

Trump pardons convicted founder of crypto exchange Binance

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Source: NBC News

President Donald Trump signed a pardon on Wednesday for convicted crypto executive Changpeng Zhao, who founded the Binance crypto exchange, White House Press Secretary Karoline Leavitt said in a statement.

"President Trump exercised his constitutional authority by issuing a pardon for Mr. Zhao, who was prosecuted by the Biden Administration in their war on cryptocurrency," Leavitt said. "In their desire to punish the cryptocurrency industry, the Biden Administration pursued Mr. Zhao despite no allegations of fraud or identifiable victims."

Zhao was sentenced to four months in prison after reaching a deal with the Justice Dept. to plead guilty to charges of enabling money laundering at Binance, which he ran at the time.

The U.S. also ordered Binance to pay more than $4 billion in fines and forfeiture, while Zhao agreed to pay $50 million in fines.

Read more: https://www.msn.com/en-us/news/news/trump-pardons-convicted-founder-of-crypto-exchange-binance/ar-AA1P3oAF?ocid=msedgntp&pc=HCTS&cvid=68fa7456fa884cdc9476c88f66854616&ei=24

Under Trump, no rich people will ever go to jail.

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Trump pardons convicted founder of crypto exchange Binance (Original Post) iemanja Oct 23 OP

More, a Biden era conviction iemanja Oct 23 #1

An example of the media failing us with the headline. They moniss Oct 23 #2

I have to assume tRump received a nice "campaign contribution". groundloop Oct 23 #3

It is worth checking whether Dump gets a piece of CZ's action. Eugene Oct 23 #4

Duplicate Yonnie3 Oct 23 #5

iemanja

(57,156 posts)

1. More, a Biden era conviction

Reply to iemanja (Original post)

Thu Oct 23, 2025, 01:37 PM

Oct 23

"These actions by the Biden Administration severely damaged the United States’ reputation as a global leader in technology and innovation," Leavitt also said. "The Biden Administration’s war on crypto is over."

In November 2023, the Justice Dept. called the agreement with Binance and Zhao a "coordinated" action between the Treasury, CFTC and Financial Crimes Enforcement Network. “Binance became the world’s largest cryptocurrency exchange in part because of the crimes it committed — now it is paying one of the largest corporate penalties in U.S. history,” said Attorney General Merrick Garland in 2023.

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moniss

(8,410 posts)

2. An example of the media failing us with the headline. They

Reply to iemanja (Original post)

Thu Oct 23, 2025, 01:52 PM

Oct 23

should have said "Crooked founder" rather than "convicted". He can be pardoned of his conviction but it doesn't make him not crooked. Crumb the 1st and his pals may escape through legal maneuvers or pardons etc. but they are still crooked and would be accurately described as such.