- Binance founder and former CEO Changpeng “CZ” Zhao firmly rejected rumors that U.S. President Donald Trump granted him a presidential pardon.
- Zhao served a four-month prison sentence and paid a $50 million fine in 2024 for violating U.S. anti-money laundering regulations.
- The rumors of a potential pardon briefly impacted the cryptocurrency market, with Binance’s native token, BNB, rising to $650 before settling at $644.2, while the meme-inspired OFFICIAL TRUMP token dropped 2% in 24 hours
Binance founder and former CEO Changpeng “CZ” Zhao has denied widespread rumors suggesting U.S. President Donald Trump granted him a presidential pardon.
The speculation was reportedly sparked by an article in the Wall Street Journal (WSJ), which alleged that Trump had issued a pardon to Zhao, who in 2024 pleaded guilty to violating U.S. anti-money laundering regulations.
Zhao served a four-month prison sentence and paid a $50 million fine, while Binance agreed to a $4.3 billion corporate settlement, the largest of its kind in U.S. history.
Zhao vehemently denied the allegation on his X account.
“Sorry to disappoint. The WSJ article got the facts wrong. […] Please verify with official sources before believing in fake news.”
CZ
Zhao also reposted a message from Donald Trump that criticized media outlets, including CNN and The New York Times, for allegedly circulating misleading information.
Trump’s post, unrelated to the pardon rumors, added fuel to Zhao’s narrative of widespread media misinformation.
“Fake news everywhere,” Zhao wrote, reposting Trump’s post.
A review of the U.S. Department of Justice’s official pardon records shows no indication that Zhao has received clemency.
Despite denying the pardon rumors, Zhao confirmed during a recent podcast appearance that his legal team submitted a formal request for a presidential pardon earlier this year.
The application was reportedly filed in April 2025. Zhao noted the decision came after media reports by Bloomberg and WSJ linked him to Trump’s political circle.
However, Zhao strongly rejected another WSJ article that made allegations about Binance, describing the report as “false, misleading, and politically motivated.”
Zhao emphasized that he has had no conversations involving Binance.US or Trump’s team.
“I have not spoken to anyone about any deal,” Zhao wrote on X, accusing the WSJ of fabricating a narrative by piecing together unfounded claims.
“It’s good to see that even the WSJ thinks I should be pardoned,” he concluded.
