United States President Donald Trump has issued a pardon for Binance founder Changpeng Zhao, a White House official said, quoted by Reuters, reports News.bg.
In an official statement, White House press secretary Caroline Leavitt said that the head of state had “exercised his constitutional powers by pardoning Mr. Zhao, who was persecuted by the Biden administration as part of their war on cryptocurrencies“.
Changpeng Zhao, considered one of the most influential figures in the world of digital finance, has stepped down from the leadership of Binance after the company reached a $4.3 billion settlement with US authorities. The deal ended a years-long investigation into alleged irregularities at the world's largest cryptocurrency exchange.
With Trump's decision, Zhao is allowed to return to the business he founded in 2017. He has already served a four-month sentence imposed by a US court.
Earlier this year, President Trump pardoned other prominent entrepreneurs in the technology and financial sectors - including the founders of the BitMEX cryptocurrency exchange, who were charged with money laundering violations, and the founder of the electric truck company Nikola, who was convicted of fraud. He also commuted the sentence of the CEO of the now-defunct startup Ozy Media.