The founder of Binance confirmed information about a pardon request to the President of the United States!!!
What happened? Changpeng Zhao, the founder and former CEO of the largest cryptocurrency exchange Binance, confirmed that he has officially submitted a pardon request to the President of the United States. In the Farokh Radio podcast on May 6, Zhao stated that his legal team submitted the request after media reports published by Bloomberg and WSJ on this topic.
The entrepreneur reminded that during his previous term, Donald Trump pardoned three executives of the cryptocurrency exchange BitMEX, including founder Arthur Hayes, which served as additional motivation for submitting the request. According to him, the documents were submitted about two weeks before the podcast aired.
The billionaire pleaded guilty to violating the Bank Secrecy Act in November 2023 as part of a deal with authorities. As a result, Binance paid a $4.3 billion fine, and Zhao's fine was $50 million. He was sentenced to four months in prison and was barred from holding executive positions at Binance.