Former Binance CEO Changpeng Zhao expressed his openness to receiving a federal pardon from US President-elect Donald Trump for a felony charge.
Zhao’s involvement with Binance
After founding Binance in 2017, Changpeng Zhao resigned as CEO as part of a 2023 agreement with authorities, but stated he would remain available to the team for consultation. He reiterated that he had no wish to be CEO again. Richard Teng, who succeeded him, stated that Zhao has a lifetime ban from managing or operating the crypto exchange.
Trump's struggles as a convicted felon
In May, a New York jury found Donald Trump guilty of 34 felony charges related to falsifying business documents. The sentencing decision was postponed to allow legal teams to file their arguments. Many experts suggest that Trump is unlikely to face sentencing before taking office in January 2024.
First presidential action for Silk Road founder?
While Trump did not specifically mention Zhao during his campaign, he pledged to commute Ross Ulbricht's sentence, the creator of Silk Road. However, during his first term, Trump did not take any action to commute the sentence.
The scenario with Changpeng Zhao and the potential pardon from President-elect Trump demonstrates the complex interactions between the cryptocurrency industry and the legal system. Trump's future steps regarding crypto issues will be closely monitored.
