President Donald Trump signed a pardon for Changpeng Zhao , the co-founder of Binance, the world's largest crypto exchange, who was serving a four-month sentence on charges of enabling money laundering, White House press secretary Karoline Leavitt said in a statement obtained by NBC News on Thursday (October 23).

"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," Leavitt said. "In their desire to punish the cryptocurrency industry, the Biden Administration pursued Mr. Zhao despite no allegations of fraud or identifiable victims."

Zhao reached a plea deal with the Justice Department in November 2023 and agreed to pay over $4 billion to resolve violations re

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