Founder of Binance, the world’s largest crypto exchange
Changpeng Zhao
a.k.a. “The Stranger”
He pleaded guilty to running an exchange without an effective anti-money-laundering program. He served four months and paid a $50 million fine. Months before his pardon, a $2 billion investment in Binance was settled in the Trump family’s own stablecoin. Afterward, the President said he had no idea who Zhao was.
Rap sheet
- Convicted of
- Failure to maintain an effective anti-money-laundering program (Bank Secrecy Act) [1]
- Court
- Western District of Washington [1]
- Sentenced
- April 30, 2024: four months in prison; $50,000,000 fine [1]
- Company
- Binance itself agreed to a separate $4.3 billion corporate penalty. That was the company, not him. [2]
- Granted
- Full and unconditional pardon, signed October 21, 2025 [3]
The receipt
PARDONMAXXING CHANGPENG ZHAO - - - - - - - - - - - - - - - - - - -
Money on the table (reported)
- MGX’s Binance investment, settled in World Liberty’s USD1 stablecoin (not a payment to anyone) [4] $2B deal
- Binance lobbying on clemency and policy [6] $800,000
Wiped off the books
- Federal conviction [3] Erased
- - - - - - - - - - - - - - - - - - -
Thank you for your business
No refunds · No questions
Gold is money that was reportedly spent near the President’s orbit. Red is what the grant wiped away. We list what was reported and when. We don’t claim one caused the other. How we count.
Timeline
- November 21, 2023 The law Pleads guilty. Binance agrees to $4.3 billion in penalties. [2]
- April 30, 2024 The law Sentenced to four months and a $50 million fine. [1]
- May 1, 2025 The money Abu Dhabi’s MGX says it will use USD1, the stablecoin of the Trump family’s World Liberty Financial, to settle a $2 billion investment in Binance. [4]
- October 21, 2025 The pardon Full pardon signed. Binance and Zhao deny any connection to the stablecoin deal. [3][5]
- October 31, 2025 Meanwhile Trump tells 60 Minutes he has “no idea who he is.” [6]
“no idea who he is”
Detective’s notes
CommentaryThe President pardoned a man he says he’s never heard of, whose company did business with the President’s family’s company. Pardon the confusion.
The pardon doesn’t refund the $50 million fine. It clears the record, which matters if you want to get back into the business.
Sources
- Clemency grants by President Donald J. Trump, 2025–present (archived Sept. 20, 2026)
- Binance and CEO plead guilty to federal charges in $4B resolution
- Signed clemency warrant: Changpeng Zhao
- Trump-linked stablecoin used for MGX’s $2 billion Binance deal
- Addressing Trump’s claims about the pardon of Binance’s founder
- Changpeng Zhao (citing NYT, WSJ and CBS reporting on lobbying and the 60 Minutes interview)