US President Donald Trump has pardoned the convicted Binance co-founder Changpeng "CZ" Zhao, the White House said Thursday, accusing Trump's predecessor Joe Biden of launching an unnecessary "war" against the industry.

Binance was created in 2017, and swiftly became the world's largest cryptocurrency exchange by volume, turning Zhao into a billionaire.

Following an investigation into the firm's operations, Zhao pleaded guilty to violating US anti-money-laundering laws in late 2023, and served a four-month prison sentence for it in 2024.

Zhao's pardon wipes his criminal record, and could help pave the way for Binance to return to the United States, around two years after it agreed to suspend its US operations in a deal to resolve the Department of Justice's criminal........

© International Business Times