Changpeng Zhao Seeks Trump Pardon, Could SBF Follow Suit?

Binance founder Changpeng ‘CZ’ Zhao has formally applied for a presidential pardon from Donald Trump, adding a new chapter to the growing list of crypto industry figures seeking clemency from legal consequences.

“We only submitted the application two weeks ago,” Zhao revealed during a recent interview with Faro Radio in Abu Dhabi. His confirmation follows months of speculation about his potential pardon bid, rumors he had previously dismissed as “fake news”.

Zhao served four months in prison last year after pleading guilty to violating US anti-money laundering regulations. As part of Binance’s broader settlement with the US Department of Justice, the exchange paid a $4.3billion fine, and Zhao stepped down as CEO.

“I think we as an industry are very lucky that the current U.S. president is very pro-crypto,” Zhao said during the interview, pointing to the shift in regulatory tone under Trump’s leadership.

While Zhao reiterated he has no plans to return to his former role at Binance — “I think that’s a chapter that’s flipped” — a presidential pardon would lift significant legal restrictions and potentially allow him to reengage more actively in the crypto space.

SBF eyes similar redemption

Meanwhile, former FTX CEO Sam Bankman-Fried (SBF), currently serving a 25-year sentence for fraud, may also be exploring a path toward clemency. According to reports, his parents — Stanford law professors Joseph Bankman and Barbara Fried — have been meeting with legal advisers and individuals close to Trump to explore the possibility of a pardon.

Unlike Zhao, Bankman-Fried faces a steeper uphill battle. He was convicted of orchestrating one of the largest financial frauds in recent history, which led to FTX’s collapse and more than $8bn in customer losses.

In what many view as an image rehabilitation effort, Bankman-Fried recently gave a 43-minute prison interview with Tucker Carlson, during which he expressed regret over his past political affiliations and aligned himself with Republican positions.

Trump’s crypto clemency track record

Trump has previously shown a willingness to pardon figures from the crypto world. Shortly after returning to office, he fulfilled a campaign promise by granting clemency to Ross Ulbricht, the founder of Silk Road.

More recently, Trump pardoned four former executives of the BitMEX cryptocurrency exchange: co-founders Arthur Hayes, Benjamin Delo, Samuel Reed, and former head of business development Gregory Dwyer. These actions have sparked optimism among supporters of both Zhao and Bankman-Fried.

What it means for the industry

Trump’s evolving approach to crypto clemency could reshape the legal landscape for blockchain entrepreneurs. His administration has dramatically shifted from the enforcement-heavy stance of previous years, signaling a broader embrace of digital asset innovation.

For Zhao, a pardon would remove limitations tied to his plea agreement and allow greater freedom to re-enter executive roles or lead new ventures. Even though he has ruled out a return to Binance, the legal clearance would significantly expand his future options.

Bankman-Fried’s case remains far more polarizing, with lingering public backlash and skepticism over any path to redemption. However, the parallel pursuit of pardons by two of crypto’s most notorious figures shows the deep entanglement between the industry, politics, and personal legacy.