WASHINGTON (AP) — President Donald Trump has pardoned , who created the world’s largest cryptocurrency exchange and served prison time after failing to stop criminals from using the platform to move money connected to child sex abuse, drug trafficking and terrorism.
Zhao had asked Trump for a pardon previously.
He has deep ties to World Liberty Financial, a crypto venture that the Republican president and his sons Eric and launched in September.
Trump’s most recent reveals he made more than $57 million last year from World Liberty Financial, which USD1, a pegged at a 1-to-1 ratio to the U.S. dollar.
World Liberty Financial also that an investment fund in the United Arab Emirates would be using $2 billion worth of USD1 to purchase a stake in Binance. Zhao also has publicly said that he had asked Trump for a pardon that could nullify his conviction.
White House press secretary Karoline Leavitt said in a statement Thursday that the Biden administration prosecuted Zhao out of a “desire to punish the cryptocurrency industry.” She said there were “no allegations of fraud or identifiable victims,” though Zhao had pleaded guilty in November to one count of failing to maintain an anti-money-laundering program.
“I failed here,” Zhao told the court last year. “I deeply regret my failure, and I am sorry.”
The post Trump pardons Binance founder Changpeng Zhao appeared first on Associated Press.
