(FILES) Binance Co-Founder and CEO Changpeng Zhao speaks during a press conference at the Europe's largest tech conference, the Web Summit, in Lisbon on Nov. 2, 2022. Photo by PATRICIA DE MELO MOREIRA/AFP via Getty Images

Changpeng Zhao, the co-founder of cryptocurrency exchange Binance Holdings Ltd. who pleaded guilty to criminal charges relating to lax money laundering controls, has been pardoned by U.S. President Donald Trump.

“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.

“The Biden administration pursued Mr. Zhao despite no allegations of fraud or identifiable victims,” she added. “The Biden administrati

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