WASHINGTON (AP) — President Donald Trump has pardoned Binance founder Changpeng Zhao, who created the world’s largest cryptocurrency exchange and served prison time after failing to stop criminals from using the platform to move money connected to child sex abuse, drug trafficking and terrorism.

White House press secretary Karoline Leavitt is scheduled to hold a news briefing at 1 p.m. ET. Watch in the player above.

Zhao had asked Trump for a pardon previously.

He has deep ties to World Liberty Financial, a crypto venture that the Republican president and his sons Eric and Donald Jr. launched in September.

Trump’s most recent financial disclosure report reveals he made more than $57 million last year from World Liberty Financial, which has launched USD1, a stablecoin pegged at a 1-to-1

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