Changpeng Zhao, the founder of Binance and widely known as "CZ," has confirmed that he has formally applied for a pardon from former U.S. President Donald Trump. The application was submitted several weeks ago, according to sources familiar with the matter.

CZ’s request comes in light of recent media coverage and after other prominent figures in the cryptocurrency industry reportedly received pardons. Zhao, who is currently serving a prison sentence, hopes the appeal will be considered based on his contributions to the crypto sector and comparisons to similar cases.