Zhao received a four-month prison sentence for money laundering
The founder of the cryptocurrency exchange Binance, Changpeng Zhao, was pardoned by U.S. President Donald Trump after being pursued by the administration of former President Joe Biden.
This was reported by White House Press Secretary Caroline Levitt.
Levitt noted that the Biden administration attempted to punish the cryptocurrency sector by pursuing Zhao, despite the absence of fraud charges or specific victims.
“Initially, the Biden administration planned to send Zhao to prison for 3 years, which would have been an unprecedented decision, as even the judge said he had never seen anything like it in 30 years of work. These actions negatively affected the reputation of the U.S. as a global technology leader. The war against cryptocurrencies is over,” Caroline Levitt stated.
In November 2023, it became known that Binance, the largest cryptocurrency exchange in the world, agreed to pay a fine of $4.3 billion for violations of anti-money laundering laws and sanctions.
Zhao was sentenced to four months in April of last year in a money laundering case.
Photo www
