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https://www.wsj.com/finance/currenc...3?st=XWytj6&reflink=desktopwebshare_permalink
“President Trump has pardoned Changpeng Zhao, the convicted founder of the crypto exchange Binance, according to people familiar with the matter, following months of efforts by Zhao to boost the Trump family’s own crypto company.
The president signed the pardon on Wednesday, the people said. Trump recently indicated to advisers that he was sympathetic to arguments of political persecution related to Zhao and others, one of the people said.
White House press secretary Karoline Leavitt said that 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.” She added: “The Biden Administration’s war on crypto is over.”
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Since Trump’s election, Binance has also been a key supporter of his family’s World Liberty Financial crypto venture, a business that has driven a huge leap in the president’s personal wealth.
The Justice Department imposed a record $4.3 billion fine and burdensome oversight on Binance, which it said had become a colossal money-laundering hub through which sanctioned groups and criminal organizations laundered billions of dollars in illicit funds.
The pardon may also prematurely end the Justice Department’s three-year Binance monitorship, set up to ensure the company complies with U.S. financial crime laws. However, it likely won’t end a separate monitorship established by the Treasury Department without the additional approval of Trump or the Treasury secretary.…”