President Donald Trump signed a pardon Wednesday for convicted crypto executive Changpeng Zhao, who founded the Binance crypto exchange, White House press secretary Karoline Leavitt said in a statement.
"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," Leavitt said. "In their desire to punish the cryptocurrency industry, the Biden Administration pursued Mr. Zhao despite no allegations of fraud or identifiable victims."
Zhao was sentenced to four months in prison after reaching a deal with the Justice Department to plead guilty to charges of enabling money laundering at Binance, which he ran at the time.
The United States also ordered Binance to pay more than $4 billion in fines and forfeiture, while Zhao agreed to pay $50 million in fines.
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The war on the rule of law continues.
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