- CZ slams Sen. Warren for factual errors regarding Trump pardon and original charges
- Warren alleged money laundering, corruption; CZ/supporters cite compliance charge, no victims
- Pardon fuels debate over Trump’s crypto ties vs. alleged Biden DOJ “weaponization.”
President Donald Trump has officially pardoned Changpeng Zhao, the founder of Binance, who previously faced legal scrutiny while serving as CEO of the world’s largest cryptocurrency exchange. The move has ignited a heated debate, with Senator Elizabeth Warren of Massachusetts voicing strong criticism, and Zhao himself pushing back against her claims.
Trump Grants Pardon Citing Biden Admin’s “War on Crypto”
The White House confirmed the pardon in a statement, saying, “President Trump exercised his constitutional authority by issuing a pardon for Mr. Zhao, who was prosecuted by the Biden administration in their war on cryptocurrency.”
Changpeng Zhao, also known as CZ, had agreed to step down as Binance CEO as part of a $4.3 billion settlement with the U.S. Department of Justice in 2023. He pleaded guilty to charges related to compliance failures on the Binance platform. In April 2024, Zhao was sentenced to four months in prison, significantly lower than the three years requested by federal prosecutors.
Following his sentencing, Zhao was reported in May 2025 to be assisting World Liberty Financial with its global expansion, a claim both Zhao and the company denied.
Warren Alleges Corruption, Links Pardon to Trump’s Crypto Interests
Senator Warren condemned the pardon, framing it as an example of corruption and favoritism toward Trump-affiliated crypto ventures. “CZ pleaded guilty to a criminal money laundering charge and was sentenced to prison. But then he financed President Trump’s stablecoin and lobbied for a pardon,” she said.
Warren warned that if Congress did not act to prevent such situations, it would be responsible for allowing lawlessness in the financial sector.
CZ Rebuts Warren: “NO Money Laundering Charges”
Zhao responded by disputing the accuracy of Warren’s statements. He clarified that he had not faced money laundering charges and said that the legal case involved a compliance-related offense with no victims or evidence of illicit activity.
“The same Senator declared “war on crypto”, on public TV, 5 days before my sentencing, during the Biden Admin,” he wrote.
He also quoted legal analysts who explained that Zhao was the first known first-time offender in U.S. history to receive a prison sentence for a non-fraud, non-criminal offense of this nature.
Related: CZ Slams Tokenized Gold as a ‘Trust Me Bro’ Token, Counters Peter Schiff
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