Trump Pardons Binance Founder Changpeng Zhao (apnews.com)
- Reference: 0179858618
- News link: https://yro.slashdot.org/story/25/10/23/190204/trump-pardons-binance-founder-changpeng-zhao
- Source link: https://apnews.com/live/donald-trump-news-updates-10-23-2025
> Zhao has deep ties to World Liberty Financial, a crypto venture that the Republican president and his sons Eric and Donald Jr. launched in September. Trump's most recent [4]financial disclosure report reveals he made more than $57 million last year from World Liberty Financial, which has [5]launched USD1 , a stablecoin pegged at a 1-to-1 ratio to the U.S. dollar. World Liberty Financial also recently announced that an investment fund in the United Arab Emirates would be using $2 billion worth of USD1 to purchase a stake in Binance. Zhao also has publicly said that he had asked Trump for a pardon that could nullify his conviction.
>
> White House press secretary Karoline Leavitt said in a statement Thursday that the Biden administration prosecuted Zhao out of a "desire to punish the cryptocurrency industry." She said there were "no allegations of fraud or identifiable victims," though Zhao had pleaded guilty in November to one count of failing to maintain an anti-money-laundering program.
[1] https://apnews.com/live/donald-trump-news-updates-10-23-2025
[2] https://news.slashdot.org/story/23/11/21/1725213/binance-founder-changpeng-zhao-agrees-to-step-down-plead-guilty
[3] https://slashdot.org/story/24/04/30/2048242/binance-founder-changpeng-zhao-sentenced-to-4-months-in-prison
[4] https://www.documentcloud.org/documents/25982124-trump-financial-disclosure-report/
[5] https://slashdot.org/story/25/03/25/2045243/trumps-crypto-venture-introduces-a-stabelcoin
So to be clear... (Score:5, Insightful)
there were... "no allegations of fraud or identifiable victims".
And for that fraud and lack of victim the founder pled guilty, paid a $50m fine and went to prison. The company pled guilty paid $4.3bn in fines. And FTX sued to recover money that it alleged Binance fraudulently transferred.
So we had allegation of fraud, admission of fraud, and an identifiable victim took them to court.
Also laws in the USA apparently don't matter anymore. Don't forget no need to pay speeding fines, there's no identifiable victim so you shouldn't be punished anymore.
We all know Trump is a wannabie dictator, my real question is how did Leavitt somehow manage to appear more of a piece of shit than he is?
Re:So to be clear... (Score:4, Insightful)
> there were... "no allegations of fraud or identifiable victims".
> And for that fraud and lack of victim the founder pled guilty, paid a $50m fine and went to prison. The company pled guilty paid $4.3bn in fines. And FTX sued to recover money that it alleged Binance fraudulently transferred.
> So we had allegation of fraud, admission of fraud, and an identifiable victim took them to court.
> Also laws in the USA apparently don't matter anymore. Don't forget no need to pay speeding fines, there's no identifiable victim so you shouldn't be punished anymore.
> We all know Trump is a wannabie dictator, my real question is how did Leavitt somehow manage to appear more of a piece of shit than he is?
Trump has a motivation. Leavitt is just his motivations justification mechanism. There is no real motivation behind her, other than sucking up to Trump, and it's impossible to hear anything she says as anything other than him using her as a puppet. Except real puppets probably have a better chance at escaping their masters.
Re: (Score:2)
It should be unconstitutional too. The controlling Supreme Court case is US v Shapiro (1940) -- year is important to find the correct case.
The dissent is bang on. The government can compel providing existing records, but not creating new records.
This new power of compulsion was important to the New Deal. But FDR had been threatening to add new Justices until he got a pro-New Deal majority, so the court caved in.
Re: (Score:2)
> Also laws in the USA apparently don't matter anymore. Don't forget no need to pay speeding fines, there's no identifiable victim so you shouldn't be punished anymore.
Absolutely wrong. What actually happens is that laws are strictly enforced, just not against the president and his friends, and those that curry favor with the president king. But you as a mere subject, if you do something wrong, expect the full force of the law to be used against you. This is how it works also in Russia or China, and all th
Re: (Score:2)
> Absolutely wrong. What actually happens is that laws are strictly enforced, just not against the president and his friends, and those that curry favor with the president king. But you as a mere subject, if you do something wrong, expect the full force of the law to be used against you. This is how it works also in Russia or China, and all the corrupt countries on earth.
"The essence of fascism is to make laws forbidding everything and then enforce them selectively against your enemies."
Re: (Score:1)
> Don't forget no need to pay speeding fines, there's no identifiable victim so you shouldn't be punished anymore.
There are clearly identifiable victims, everyone else on or near the road who was endangered by you traveling beyond the socially agreed risk level.
Now who did Binance hurt? and how?
Re: (Score:2)
You mean other the people who died because of the drug dealers laundering their money? Or the women who are repeatedly raped and sold as cattle by human traffickers? Or the children and babies being used to produce child porn?
Zhao already completed his sentence (Score:4, Informative)
Zhao pleaded guilty in 2023 to a single violation of the Bank Secrecy Act, which included failure to properly implement an effective anti-money laundering program. Binance paid $4.3 billion to resolve the Department of Justice’s investigation led by former Attorney General Merrick Garland and coordinated by then-Treasury Secretary Janet Yellen through its financial crime units.
Zhao left federal prison in September 2024 after serving a four-month sentence.
Re:Zhao already completed his sentence (Score:5, Informative)
No. He had completed his prison term .
Part of Zhao's plea bargain was to never be involved in the crypto-banking industry again.
The pardon erases that requirement.
Ah, America... (Score:2)
The land where the well-connected get pardoned for money laundering, but those who cross the border illegally or don't have documentation of the fact that they're American can be deported to countries they've never seen, where they don't even speak the native language.
Please, someone explain how this makes sense.
Re:Ah, America... (Score:5, Insightful)
> The land where the well-connected get pardoned for money laundering, but those who cross the border illegally or don't have documentation of the fact that they're American can be deported to countries they've never seen, where they don't even speak the native language.
> Please, someone explain how this makes sense.
The United States Government was always built to protect the already well off in a way that was just appealing enough to the not so well off that they didn't outright rebel against their "betters." Donald Trump's actions are testing the line on how far that can go. But, in all honesty, we were going to get here one way or another. He's a symptom, not the disease. The disease was built in. It didn't have to go this way, but unrestrained greed is pushing it forward regardless.
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>> The land where the well-connected get pardoned for money laundering, but those who cross the border illegally or don't have documentation of the fact that they're American can be deported to countries they've never seen, where they don't even speak the native language.
>> Please, someone explain how this makes sense.
> The United States Government was always built to protect the already well off in a way that was just appealing enough to the not so well off that they didn't outright rebel against their "betters." Donald Trump's actions are testing the line on how far that can go. But, in all honesty, we were going to get here one way or another. He's a symptom, not the disease. The disease was built in. It didn't have to go this way, but unrestrained greed is pushing it forward regardless.
Trump may not be the disease. However, he is the current policeman for the crime, so he gets to pick and choose who to give a ticket to. It's also extremely fortunate for Trump that there is no domestic emoluments clause. There is the little phrase about bribery and impeachment, but fortunately for him, Trump has Congress as a wingman.
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>>> The land where the well-connected get pardoned for money laundering, but those who cross the border illegally or don't have documentation of the fact that they're American can be deported to countries they've never seen, where they don't even speak the native language.
>>> Please, someone explain how this makes sense.
>> The United States Government was always built to protect the already well off in a way that was just appealing enough to the not so well off that they didn't outright rebel against their "betters." Donald Trump's actions are testing the line on how far that can go. But, in all honesty, we were going to get here one way or another. He's a symptom, not the disease. The disease was built in. It didn't have to go this way, but unrestrained greed is pushing it forward regardless.
> Trump may not be the disease. However, he is the current policeman for the crime, so he gets to pick and choose who to give a ticket to. It's also extremely fortunate for Trump that there is no domestic emoluments clause. There is the little phrase about bribery and impeachment, but fortunately for him, Trump has Congress as a wingman.
And let's not forget the Supreme Court as a . . . mmm, Mommy? Cohort? Egger-onner?
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> The land where the well-connected get pardoned for money laundering, but those who cross the border illegally or don't have documentation of the fact that they're American can be deported to countries they've never seen, where they don't even speak the native language.
> Please, someone explain how this makes sense.
Was "money laundering" the charge?
IIRC it wasn't that he was laundering money, it's that his business did not comply with licensing requirements for his type of business, which includes instituting government-mandated anti-laundering systems. He failed to actively seek/stop/report potential laundering activity by his customers.
Re: (Score:2)
What sort of books do you reckon will be in the library?
A huge crash is coming (Score:3, Interesting)
And nobody here is going to get off scot-free.
We have completely deregulated the finance system and that orange goon has repeatedly pardoned people who have committed Financial crimes in the hundreds of millions.
That means every single big crook out there looking to steal your 401k has zero fear of law enforcement.
Meanwhile there isn't a single credible economist who won't tell you that the stock market is massively overvalued.
On top of this we have a massive trade war going on so that the Republicans could pass tax cuts on billionaires using tariffs as a national sales tax.
If you voted for Trump you done fucked up boy.
For everyone thinking they're safe let me tell you a story. Buddy of mine drive School buses. He'll complain to me because people will pull out right in front of them.
Takes him three football fields to stop he says.
That's the US economy. It takes a long time for it to come to a halt.
You just swerved in front of the US economy by putting a fat orange rapist in charge of everything in your life.
That economy is about come colliding directly with your shitty little SUV. It's going to go right through you.
But hey, for One shining moment you got to own the libs. I mean look at me and my TDS. Did you hear they were going to make that an actual medical diagnosis? Just like the Soviets did. You like the Soviets now right?
Re: (Score:1)
So how many people has he actually plowed into? I am guessing none? right?
So the reality, all those people where correct, their much nicer car than he can afford on a bus driver salary, is more than capable of accelerating and getting out of the way before he collides with them.
It not surprising they have better perception and judgement than he does, given they are not civil employees.
Holy fucking shit you're stupid (Score:2)
The reason my buddy has not plowed into people is because when people around him do something stupid then he does something smart and makes sure their stupid thing doesn't cause an accident.
Kind of like how you have been protected by democrats from the horrors the Republican party is about to unleash for your entire life and taking it for granted. No you didn't just take it for granted you sneered at their protection.
That's why I am not in the least bit hesitant to call you a fucking moron.
You s
PROMOTION TIME :-) (Score:2)
I am sure he is going to end up in Trumps inner circle so that he can "legally steal" millions so long as her profit shares with Trump.
I wonder how much (Score:2)
that pardon cost? Trump doesn't strike me as the type to do anything like that for free.
the evolution of the bribe (Score:1)
we used to decry "campaign donations".
now we have "ballroom donations," "presidential library donations," "airplane donations," and "cryptocurrency investing"
Reseting the monetary system (Score:2)
By subtly expanding the supply or adjusting the peg of digital assets, governments can erode the purchasing power of everyone’s holdings, effectively transferring the burden of adjustment from the state to private citizens. Debtors (governments) win, while savers (the public) lose value, without the explicit shock of sovereign default. Cryptocurrency and stablecoin adoption can be read as a symptom and tool of fragile, heavily indebted economies managing their burdens silently through digital financia
Re: (Score:2)
Uh, you realize the Federal Reserve already does this with the dollar, right?
He wasn't pardoned. (Score:2)
His sentence was commuted.
Time to abolish presidential pardons (Score:2)
Presidents have demonstrated they are incapable of using such power without being corrupted by it. It is past time for a constitutional amendment abolishing the pardon.
Curious (Score:5, Insightful)
The tough on crime party sure does love letting criminals out of jail. [1]https://en.wikipedia.org/wiki/... [wikipedia.org]
[1] https://en.wikipedia.org/wiki/List_of_people_granted_executive_clemency_in_the_second_Trump_presidency
Re: (Score:2)
Trump will need all the Crypto coins he can to create his new (white?) Trump tower in the location where the U.S. White House used to be...
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"his new (white?) Trump tower in the location where the U.S. White House used to be"
White? Of course not! It'll be gold!
Re: Curious (Score:5, Insightful)
The tough on crime party sure loves committing crimes
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and taking bribes
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> The tough on crime party sure does love letting criminals out of jail. [1]https://en.wikipedia.org/wiki/... [wikipedia.org]
Trump doesn't seem to consider "white collar crime" crime or supporters doing "bad things" a bad thing - especially if either group has $$$. Basically anything he (or family members) might do, or has done, is okay or, at least, shouldn't be punished too hard. He also seems to believe in the "better to ask for forgiveness than permission" thing, w/o the asking for forgiveness as nothing he ever does is wrong in his thinking. The rest of the GOP just looks the other way when it come to Trump so as not to
[1] https://en.wikipedia.org/wiki/List_of_people_granted_executive_clemency_in_the_second_Trump_presidency