Trump pardons Binance founder Changpeng Zhao

US President Donald Trump signed a pardon on October 22, 2025, for Binance founder Changpeng Zhao, who was previously convicted of violating anti–money laundering laws.

According to The Wall Street Journal, Zhao was fully cleared of his criminal record after serving four months in prison. The outlet reports that Trump’s decision was influenced by business ties between his company, World Liberty, and Binance.

Sources told WSJ that in recent years, Zhao had held talks with members of Abu Dhabi’s royal family about investing in the exchange — discussions that coincided with the sheikhs’ interest in Trump’s cryptocurrency ventures.

In spring 2025, the MGX investment fund, led by Sheikh Tahnoun bin Zayed Al Nahyan, brother of the UAE president, acquired a minority stake in Binance for $2 billion. The deal was settled in USD1, a stablecoin linked to World Liberty, 38% of which is owned by the Trump family. World Liberty founder Zach Witkoff said the choice of asset was due to its “reliability” and backing by liquid holdings such as US Treasury bonds.

However, WSJ notes that Binance itself insisted on payment in USD1, as the exchange holds a significant portion of the token’s supply on its own platform. According to Protos, as of September 2025, more than 80% of all USD1 in circulation was issued on BNB Chain, which is controlled by Binance.

WSJ estimates that World Liberty earns about $80 million annually in interest from assets backing the stablecoin, meaning the token used in the MGX deal effectively generates profit for Trump’s company.