According to Charles Gasparino, senior correspondent at Fox Business, former Binance CEO Changpeng Zhao might be close to securing a pardon.
The reporter says that such discussions are currently “heating up” inside the White House, citing sources familiar with the matter.
The founder of the crypto giant pleaded guilty to one felony count related to violating the Bank Secrecy Act. He was then sentenced to four months in prison, becoming the richest person ever to serve time behind bars in the U.S.
Will CZ return to Binance?
Gasparino claims that the possible pardon could set the stage for CZ’s eventual return to the Binance exchange.
The crypto mogul resigned as CEO in late 2023 and was barred from any involvement with the trading giant.
Many insiders believe that the case against Zhao was “pretty weak” and did not merit a felony conviction. At the same time, there are some concerns about the optics of pardoning the crypto billionaire, considering the administration’s involvement in crypto.
In March, the Wall Street Journal reported that Zhao was actively seeking a federal pardon. However. the Binance founder vehemently denied the story.
Later, he clarified that his lawyers did apply for a pardon during a podcast appearance, but this happened only after the WSJ story came out, according to CZ.