Trump’s crypto pardons raise ethics and corruption concerns
President Donald Trump has pardoned CZ, marking another act of clemency for a prominent figure in the crypto industry that signals a concerning trend.
US President Donald Trump pardoned Changpeng Zhao, also known as CZ, on Oct. 21. The former Binance executive is just the latest on a growing list of convicted crypto executives to receive clemency from the White House.
Even on the campaign trail, Trump promised to make an about-face on crypto policy and grant clemency to individuals such as Silk Road founder Ross Ulbricht. The president cited instances of lawfare from the Biden administration as a significant motivator.
While starting with Ulbricht in January, the list has grown to include four executives from the exchange BitMEX as well. This has encouraged some high-profile crypto figures behind bars, such as former FTX CEO Sam Bankman-Fried, to make overtures to the Trump administration.