Recently, Changpeng Zhao, the founder and former CEO of Binance, confirmed that he has officially applied for presidential amnesty. A few weeks ago, he still denied the relevant reports. Now this news has drawn attention from the outside world.
On May 6th, Zhao Changpeng disclosed on the Farokh Radio podcast that his legal team had submitted an application for amnesty, aiming to respond to public opinion. He said, “My lawyer has submitted the application.” Previously, Bloomberg and The Wall Street Journal reported that he might seek amnesty from former US President Trump, which prompted him to make this decision.
Zhao Changpeng mentioned in the interview that Trump once granted amnesty to three senior executives of BitMEX, including co-founder Arthur Hayes, which became an important reference for his application for amnesty. He also disclosed that the relevant documents had been officially submitted approximately two weeks before the podcast was aired.
In November 2023, Zhao Changpeng admitted to violating the Bank Secrecy Act. As part of a settlement agreement with US regulators, Binance was fined 4.3 billion US dollars, with him personally bearing 50 million US dollars. He was also sentenced to four months in prison and permanently banned from any management position at Binance. Although the presidential amnesty cannot erase his conviction record under “anti-money laundering” charges, the US Department of Justice said that the amnesty might help him return to the leadership of Binance.US. Zhao Changpeng admitted frankly, “No convicted person would mind being granted a pardon.” He also claimed that he might be the only person who has actually served a sentence for violating the Bank Secrecy Act. Since stepping down as the CEO of Binance and serving his sentence, he remains one of the major shareholders of Binance and has publicly stated that he has no intention of returning to the helm. At the Binance Blockchain Week in November 2023, he stated that the team was operating well and there was no need for him to return. At present, he is dedicated to international advisory work, providing policy advice on the integration of crypto regulations and blockchain for countries such as Pakistan and Kyrgyzstan.
Meanwhile, news came from Bhutan that the country has collaborated with Binance Pay and DK Bank to launch a national-level tourism payment system that supports cryptocurrency payments. Nowadays, tourists in Bhutan can use digital assets to pay for almost all travel-related expenses, including air tickets, hotels, guided Tours, visa fees, and even street stall consumption. This system is driven by Binance’s official App and supports over 100 cryptocurrencies, enabling real-time transactions via QR codes. All payments are immediately settled in local currency by DK Bank, without the need for traditional bank accounts, currency exchange or international credit cards. This greatly simplifies the payment process and lowers the cost threshold for overseas tourists. At present, over 100 Bhutanese merchants have been connected. Artisans and small vendors in remote areas can complete payments with the help of their smartphones, promoting the digital development of the economy in remote areas towards Web3.
In addition, former US President Trump recently fulfilled his campaign promise to the crypto community by granting a pardon to Ulbricht, the founder of the “Silk Road”. Although he had promised to release Ulbricht on his first day in office, the pardon did not take effect until the day after he took office on January 20, 2025.
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