Binance Co-Founder CZ Denies Pardon Rumors Amid Social Media Speculation
A wave of speculation swept through social media in the early hours of June 25, 2025, claiming that Changpeng Zhao, the co-founder of Binance, had been pardoned by President Donald Trump. The rumor originated from a now-deleted article by Chinese media outlet BlockBeats, which cited multiple sources alleging the pardon.
However, Zhao quickly took to X to dismiss the claims, labeling them as "fake news" likely spread by a competitor. The swift retraction of the original article and Zhao’s public denial have put the rumors to rest, but the incident highlights the volatility of unverified reports in the crypto space.
Pardon Application Pending, No Official Confirmation
Changpeng Zhao, widely known as CZ, clarified that while his legal team submitted a pardon application to President Trump in April 2025, no pardon has been granted. The U.S. Department of Justice’s pardon database currently shows no record of Zhao receiving clemency as of June 25, 2025. Zhao’s legal troubles stem from his April 2024 sentencing, where he received a four-month term in U.S. federal prison after pleading guilty to violations related to Binance’s anti-money laundering program. Released in September 2024, Zhao also paid a $50 million personal fine, while Binance settled with a historic $4.3 billion penalty, marking one of the largest corporate settlements in U.S. history.
The false report briefly impacted Binance’s native token BNB, which surged to $650 before settling back to $644.2. The price fluctuation underscores the market’s sensitivity to news surrounding Zhao and Binance, a leading global cryptocurrency exchange. Zhao’s denial also addressed speculation about business dealings with Trump’s inner circle or Binance US, emphasizing that no such negotiations are underway. His public response aimed to restore clarity and curb misinformation, particularly as the original BlockBeats article vanished from the web after his team’s intervention.
President Trump has previously shown a crypto-friendly stance, granting pardons to figures like Silk Road founder Ross Ulbricht and BitMEX co-founder Arthur Hayes. These actions have fueled optimism among crypto advocates for a more lenient regulatory environment and pardons for other crypto advocates such as longtime Bitcoin evangelist Roger Ver. However, Zhao’s case remains unresolved, with no official indication of clemency despite his application. The Binance co-founder has maintained a low profile since his release, focusing on rebuilding trust and addressing misinformation.