Trump Pardons Binance Founder and CEO Changpeng Zhao

In November 2023, Changpeng Zhao and Binance pleaded guilty to money laundering and sanctions evasion, agreeing to pay $4.3 billion to settle a criminal case. Zhao had to step down as CEO of Binance and faced a time, potentially years, in prison.

But on Wednesday President Trump granted him a pardon.

Since the settlement, Trump and his family have developed a business relationship with Binance through World Liberty Financial, a cryptocurrency venture that is 60% owned by a Trump business entity. This partnership has reportedly increased the Trump family's net worth by approximately $500 million in just the past year. It's sure to go higher on news of the pardon.

At first glance, Zhao’s pardon raises ethical concerns, even potential corruption allegations, as it appears to be influenced by the Trump family’s lucrative financial ties to Binance.

Alternatively, some might see parallels to Trump’s past business ventures, such as his Atlantic City casinos (IYKYK).

However, a closer look at the Binance/Zhao plea agreement and actions before and after its signing deflates the appearance of bad ethics and corruption.

In truth, the pardon appears well deserved.

If you find this episode informative, please like, share, and let me know your thoughts in the comments.

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