US President Donald Trump signed a pardon for Binance founder Changpeng “CZ” Zhao on October 23, 2025, clearing a federal conviction tied to anti-money-laundering failures.
Markets reacted quickly after the announcement. Trading data showed Binance’s native token BNB rising in intraday trading, with some estimates putting gains between about 3% and 8% at peak moments.
Zhao’s conviction stemmed from charges under the Bank Secrecy Act for failing to establish an effective anti-money-laundering program.
He accepted a $50 million penalty and served approximately four months behind bars. The presidential pardon removes the federal criminal conviction from his record but does not erase the facts of the case or the company’s settlement.
According to multiple outlets, CZ expressed gratitude for the pardon and said he hopes to support US crypto efforts going forward.
Will do everything we can to help make America the Capital of Crypto and advance web3 worldwide.
(Still in flight, more posts to come.)…
Political figures responded sharply. Senator Elizabeth Warren and other Democrats blasted the decision and raised concerns about influence and fairness.
Some Republican lawmakers framed the move as a reset for US engagement with the crypto sector. Reports have disclosed that congressional offices are weighing oversight steps to probe any private meetings, donations, or contracts tied to the pardon.
At the same time, exact financial links referenced in Waters’s statement remain incomplete in public filings.
Featured image from Getty Images, chart from TradingView
