Story perspectives

Binance's Zhao Guilty, Pardoned by Trump, Prepares Memoir

2/28/2026

Summary

Story summary

Changpeng Zhao, founder of Binance, pleaded guilty to a single anti-money-laundering violation and served four months in prison.
In 2023, prosecutors threatened charges against Zhao and Binance and demanded a $6.8 billion penalty.
Zhao consulted lawyers because the DOJ's demands were excessive.
U.S. President Donald Trump pardoned Zhao after his imprisonment.
Zhao is preparing to self-publish his memoir detailing his rise, fall, and return to the crypto industry.

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Story summary

Changpeng Zhao, founder of Binance, pleaded guilty to a single anti-money-laundering violation and served four months in prison.
In 2023, prosecutors threatened charges against Zhao and Binance and demanded a $6.8 billion penalty.
Zhao consulted lawyers because the DOJ's demands were excessive.
U.S. President Donald Trump pardoned Zhao after his imprisonment.
Zhao is preparing to self-publish his memoir detailing his rise, fall, and return to the crypto industry.