Trump pardons convicted Binance founder Changpeng Zhao

Core Points - President Donald Trump pardoned Changpeng "CZ" Zhao, the founder of Binance, who was convicted for violating the Bank Secrecy Act [1][2] - Zhao served a four-month sentence and was released in September 2024 [2] - The crypto industry is experiencing a revival under the new administration, which aims to position the U.S. as the crypto capital of the world [3] Legal Context - Zhao pleaded guilty in 2023 to a violation related to anti-money laundering program failures, resulting in Binance paying $4.3 billion to resolve the investigation by the Department of Justice [1] - Some believe the charges against Zhao were politically motivated as part of the Biden administration's stance on cryptocurrency [6] Market Trends - Bitcoin reached a record high of $126,000 earlier this month but has since decreased to around $111,000, still showing a 19% increase for the year [10] - The demand for cryptocurrencies is indicated by the public listings of exchanges like Bullish and Gemini, alongside Coinbase [13]