Trump Pardons Crypto Magnate Amid Corruption Concerns
President Trump has pardoned Changpeng Zhao, founder of cryptocurrency exchange Binance, sparking outrage over corruption.
Critics are demanding accountability after Zhao pleaded guilty to money-laundering charges in 2023.
- According to The Wall Street Journal, the pardon came after Zhao's efforts to boost the Trump family's crypto company, World Liberty Financial.
- Binance has been a major financial supporter of World Liberty Financial, adding an estimated $5 billion to the Trump family's wealth.
- The Journal reported that Binance drove the growth of World Liberty's dollar-pegged cryptocurrency, USD1, and accepted a $2 billion investment paid in USD1.
Following months of efforts by Zhao to boost the Trump family’s own crypto company.
Author's summary: Trump pardons Binance founder amidst corruption concerns.
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