President Donald Trump has issued a full pardon for Binance founder Changpeng “CZ” Zhao, who had pleaded guilty to charges related to money laundering violations at the world’s largest cryptocurrency exchange, the White House announced Thursday.

“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.

Zhao’s conviction stemmed from a Justice Department case launched under the Biden administration, which accused Binance of failing to maintain adequate anti–money-laundering controls and facilitating illicit financial transactions.

The case became a flashpoint in the national debate over how the U.S. should regulate digital assets, dividing lawmakers, investors, and industry leaders over whether Washington’s approach was protective or punitive.

The pardon marks a clear shift in tone from the Trump administration, reinforcing the president’s effort to portray himself as an ally of the cryptocurrency sector. Trump has repeatedly criticized what he calls “regulatory overreach” by his predecessor’s Justice Department, arguing that excessive enforcement has driven innovation and investment overseas.

“This pardon signals Trump’s intent to rebuild trust between the government and the crypto community,” said one industry analyst, describing it as “a strategic gesture toward tech and finance voters ahead of next year’s elections.”

Neither Binance nor Zhao has issued an official statement in response to the pardon.

Zhao, a prominent figure in the global crypto industry, had been one of its most influential leaders before his legal troubles. His case had sparked widespread concern across the cryptocurrency world and was viewed as a test case for how far U.S. prosecutors were willing to go in policing digital financial networks.

The pardon adds to Trump’s growing record of high-profile executive clemencies and underscores his broader promise to “end the war on crypto”, a theme he has increasingly emphasized in his public speeches and campaign messaging.