Former Binance CEO CZ Pardoned After Multi-Million-Dollar Trump-Era Lobbying Campaign

Former Binance CEO Changpeng “CZ” Zhao received a presidential pardon from President Donald Trump after serving a four-month sentence for violating U.S. anti-money laundering laws, following an extensive and costly lobbying campaign. Binance hired Ches McDowell, a close associate of Donald Trump Jr., and his firm Checkmate Government Relations, which earned $450,000 for a month’s work and over $7 million in three months, to lobby the White House and Treasury Department for executive relief. Additionally, Binance retained crypto lawyer Teresa Goody Guillén, linked to Trump administration officials, who has been paid $290,000 this year. This lobbying push reflects Binance’s broader strategy to influence regulatory decisions amid shifting U.S. administrations, with the company spending over $860,000 on lobbying in 2024 alone and expanding ties to ventures connected to Trump’s network. The pardon has sparked strong criticism from Democratic lawmakers like Representative Maxine Waters, who called it a "massive favor for crypto criminals," while Trump defended the decision, claiming Zhao was unfairly persecuted and that his actions were not criminal. The case highlights the growing role of political influence and lobbying in shaping cryptocurrency industry outcomes and regulatory landscapes.