Binance is exploring strategic options to re-enter the United States market following President Donald Trump’s pardon of founder Changpeng Zhao, with the exchange considering consolidating its separate US affiliate into its global operations or having its main platform serve American investors directly, Bloomberg reported.
Hours after receiving the pardon mid-flight, Zhao announced his renewed ambitions for the world’s largest crypto exchange, saying he would “do everything we can to help make America the Capital of Crypto and advance web3 worldwide.”
The pardon, issued Wednesday after Zhao pleaded guilty in 2023 to failing to maintain adequate anti-money laundering controls, has sparked intense debate over conflicts of interest given Binance’s recent $2 billion deal involving Trump’s family crypto firm World Liberty Financial.
According to Bloomberg, Jonathan Groth, a partner at DGIM Law, confirmed that the clemency allows Zhao to re-engage with Binance ventures, removing barriers that had sidelined the billionaire founder since his November 2023 guilty plea. With a net worth of $61.4 billion according to the Bloomberg Billionaires Index, Zhao wields considerable influence over Binance’s blockchain ecosystem, which hosts approximately $8.7 billion in assets and ranks third behind Ethereum and Solana.
The presidential pardon carries sweeping legal implications that could fundamentally change Zhao’s involvement with Binance and its subsidiaries.
Binance recently facilitated the launch of USD1, a stablecoin project for Trump-linked World Liberty Financial, expected to generate tens of millions annually, an arrangement that has drawn sharp criticism from Democratic lawmakers who view the pardon as evidence of widening conflicts of interest.
The timing aligns with Trump’s embrace of digital assets as a political platform, as the president’s family has profited over $1B from the crypto sector.