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According to multiple reports, the US President, Donald Trump, has granted a pardon to Binance founder and former CEO, Changpeng Zhao.<\/p>\n
Reuters reports<\/a>:<\/p>\n In a statement, White House press secretary Karoline Leavitt said Trump had “exercised his constitutional authority by issuing a pardon for Mr. Zhao, who was prosecuted by the Biden Administration in their war on cryptocurrency.”<\/p>\n<\/blockquote>\n Recall that CZ stepped down as CEO of Binance following a $4.3 billion settlement between the exchange and the US government, which marked the end of a years-long probe into alleged misconduct on behalf of Binance.<\/p>\n Binance is yet to comment on the matter, just like CZ himself.<\/p>\n Expectedly, the exchange’s native token reacted with an immediate price uptick. BNB traded at $1,075 ahead of the reports going live and surged by 7.5% immediately to over $1,150 before it calmed at around $1,130 as of press time.<\/p>\n Aside from having to abdicate his CEO position at Binance, CZ also agreed to pay a $50 million fine and spend four months in a US prison. He was released<\/a> from custody in September last year, but was still prohibited from resuming his leadership position at the exchange, at least officially.<\/p>\n The post Donald Trump Grants Pardon to Changpeng Zhao (CZ): Reports<\/a> appeared first on CryptoPotato<\/a>.<\/p>\n\n\n
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