President Trump has signed a pardon for the convicted Binance founder and former CEO, Changpeng Zhao.
Zhao served a four-month jail term in 2024 after pleading guilty to breaching the Bank Secrecy Act due to AML failures at Binance.
Bitcoin and BNB gained 3% and 5%, respectively, over the past 24 hours.
Bitcoin (BTC) and BNB spearheaded a crypto market recovery on Thursday after President Trump pardoned Binance's CZ.
Trump pardons CZ, Bitcoin and BNB react
US President Donald Trump has signed an official pardon for convicted crypto exchange Binance founder and former CEO Changpeng Zhao (CZ), the White House announced on Thursday.
"President Trump exercised his constitutional authority by issuing a pardon for Mr. Zhao, who was prosecuted by the Biden Administration in their war on cryptocurrency," said White House Press Secretary Karoline Leavitt.
CZ confirmed the pardon in an X post on Thursday: "Deeply grateful for today's pardon and to President Trump for upholding America's commitment to fairness, innovation, and justice," he wrote.
