Trump Pardons Convicted Binance Crypto Exec Changpeng Zhao
President Donald Trump on Thursday pardoned convicted billionaire crypto executive Changpeng Zhao, the co-founder of Binance.
The most popular exchange by volume, Binance has positioned itself as a key booster for the Trump family's crypto venture, World Liberty Financial.
“President Trump exercised his constitutional authority by issuing a pardon for Mr. Zhao, who was prosecuted by the Biden Administration in their war on cryptocurrency," White House Press Secretary Karoline Leavitt said in a statement.
Leavitt argued that the Biden administration sought to impose a stiffer prison sentence on Zhao despite "no allegations of fraud or identifiable victims."
"These actions by the Biden Administration severely damaged the United States’ reputation as a global leader in technology and innovation," Leavitt said. "The Biden Administration’s war on crypto is over."
This is a developing story and will be updated.
"Our aim is to set a high standard for blockchain-native stablecoin infrastructure by securing the right licenses and owning the regulated stack end to end," Jacob Wittman, Plasma's general counsel said in a statement.
This article has been published in yahoo.com via Yahoo News.
