By WILL WEISSERT, Associated Press
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.
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 ratio to the U.S. dollar.
World Liberty Financial also recently announced that an investment fund in the United Arab Emirates would be using $2 billion worth of USD1 to purchase a stake in Binance. Zhao also has publicly said that he had asked Trump for a pardon that could nullify his conviction.
White House press secretary Karoline Leavitt said in a statement Thursday that the Biden administration prosecuted Zhao out of a “desire to punish the cryptocurrency industry.” She said there were “no allegations of fraud or identifiable victims,” though Zhao had pleaded guilty in November to one count of failing to maintain an anti-money-laundering program.
“I failed here,” Zhao told the court last year. “I deeply regret my failure, and I am sorry.”
Related Articles
4 family members of Illinois governor candidate killed in Montana helicopter crash, campaign says Health care compromise appears far off as the government shutdown stalemate persists Vance criticizes Israel’s parliament vote on West Bank annexation, says the move was an ‘insult’ Former Chicago gang leader asks Pritzker for clemency following Trump pardon Appellate court pauses lawsuit over Everglades detention center due to government shutdownHence then, the article about trump pardons binance founder changpeng zhao was published today ( ) and is available on Los Angeles Daily News ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details
Finally We wish PressBee provided you with enough information of ( Trump pardons Binance founder Changpeng Zhao )
Also on site :