On Thursday, President Donald Trump Granting pardon To former Binance CEO and co-founder Changpeng Zhao (CZ), after months of speculation and anticipation surrounding this decision.
White House press secretary Carolyn Leavitt announced the pardon, saying: “President Trump exercised his constitutional authority by issuing a pardon to Mr. Chao, who was prosecuted by the Biden administration in its war on cryptocurrencies.”
Binance celebrates Trump’s pardon of Czechoslovakia
This audit came during the administration of former President Joe Biden, which focused heavily on… Digital assets And companies like Binance. In 2023, Zhao pleaded guilty to violations of US anti-money laundering laws and served a four-month prison sentence as part of a $4.3 billion settlement with US authorities.
In response to the pardon, Binance expressed its gratitude in a new statement on social media platform X (formerly Twitter), It is useful:
Thank you, President TrumpPOTUS for your leadership and commitment to making the United States the crypto capital of the world! CZ’s vision not only made Binance the largest cryptocurrency exchange in the world, but also shaped the broader cryptocurrency movement. Binance remains focused on building a secure, transparent and user-first platform, reducing fees and increasing access to the financial system for everyone.
Following the announcement, Zhao expressed his appreciation, It is useful He is “deeply grateful for today’s pardon and for President Trump for supporting America’s commitment to fairness, innovation, and justice.” He also pledged to contribute to making America the capital of cryptocurrencies and developing Web3 on a global scale.
However, the pardon has drawn criticism from experts like Adam Cochran, who called the decision “disgusting — even for Trump.” Cochran He pointed out That Zhao has admitted to allowing groups like Hamas and Wagner to use Binance to violate sanctions.
Expert raises concerns about Czechoslovakia’s relations with Trump
Cochran highlighted several developments related to Zhao’s pardon, including Binance’s partnership with Trump Global financial freedom (WLFI) and collaborating with Dominari Holdings, which includes Trump’s sons and operates out of Trump Tower, on various projects.
Cochran also questioned the significance of the pardon, asserting that Chow had already served his sentence and asking: “What difference does a pardon make?” He said it allows Zhao to take the reins of Binance or other financial projects again and removes oversight requirements.
Cochran concluded that this situation represents “the clearest case of paying for crime,” stressing that Trump made it clear that “crime can be overlooked in America” as long as one can pay the price for a pardon.
Following this development, Binance Coin (BNB) rose again towards $1,122, recording a 3.6% gain in 24 hours.
Featured image from Reuters, chart from TradingView.com
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The post Binance, CZ Respond To Trump’s Pardon: Expert Calls It The ‘Clearest Case Of Pay-For-Crime’ first appeared on Investorempires.com.
