Changpeng “CZ” Zhao (Binance)
- Status
- Pardon granted; congressional inquiry opened
- Clemency
- Pardon · Oct 21, 2025
- People
- Donald Trump · Donald Trump Jr.
- The case
- Pleaded guilty in 2023 to failing to maintain an anti-money-laundering program at Binance; served four months.
THE LINK TO TRUMP’S ORBIT
Binance retained lobbyist Ches McDowell of Checkmate Government Relations, a longtime friend of Donald Trump Jr. Bloomberg reported that Binance paid the firm $450,000 for one month’s work lobbying the White House and the Treasury Department on financial policy issues and “executive relief.” Separately, Abu Dhabi fund MGX paid a $2 billion investment into Binance using USD1, the stablecoin issued by the Trump family’s World Liberty Financial.
WHAT THE RECORD SHOWS
The pardon followed months of lobbying. Congressional Democrats opened an inquiry into pay-to-play questions around pardon recipients including Zhao.
RESPONSE
Zhao’s lawyer, Teresa Goody Guillén, denied any connection between Binance’s business with the Trump family and the pardon, telling the AP that “any claim of a quid pro quo by Binance or CZ, or preferential financial treatment by Binance, is a clear misstatement of the public record.” The White House said Zhao had been unfairly punished in the Biden administration’s “war on crypto.”
Correction. An earlier version dated the pardon October 23, 2025, the day it was announced. The Justice Department list dates it October 21, 2025. The earlier version also put “any connection” in quotation marks as the words of Zhao’s lawyer; that was the AP’s summary, and the entry now quotes her statement. Corrected September 18, 2026. An earlier version also said Binance retained McDowell under a contract reported at nearly half a million dollars for four weeks of work on “executive relief.” Bloomberg reported that Binance paid Checkmate $450,000 for one month’s work lobbying the White House and the Treasury Department on financial policy issues and “executive relief.” Corrected September 30, 2026.
SOURCES
- PBS NewsHour (Associated Press): Trump pardons Binance founder Changpeng Zhao ↗
- Bloomberg via Yahoo Finance: Binance founder’s pardon shows power of Trump allies on K Street ↗
- Time: What to know about Trump’s pardon of Binance’s founder ↗
- CBS News: Trump pardon recipients face congressional investigation over “pay-to-play” questions ↗
- PBS NewsHour (Associated Press): How the Trump family’s business deals could open the door for future presidents to profit from office ↗
- U.S. Department of Justice, Office of the Pardon Attorney: Clemency grants by President Donald J. Trump (2025-present) ↗
A connection recorded here is not proof that it bought the outcome. Where a response exists, it is part of the record. How entries are labeled · Submit a correction or response · Download the ledger
