aPresident Donald Trump has pardoned Binance founder Changpeng Zhao, known as “CZ,” who pleaded guilty last year to money laundering violations. The White House announced the decision Thursday, framing it as a defense of innovation and fairness against what it called the Biden Administration’s “war on cryptocurrency.” Zhao had stepped down as Binance CEO in a $4.3 billion settlement with the Justice Department and served a brief four-month sentence.

White House Press Secretary Karoline Leavitt said Trump acted to “protect America’s leadership in technology and innovation,” criticizing prosecutors for seeking an excessive prison term. Zhao thanked Trump on X, writing that he was “deeply grateful” and vowed to help make the U.S. “the Capital of Crypto.”

Sen. Elizabeth Warren condemned the move, calling it “corruption” and accusing Trump of rewarding a political ally. The pardon follows Trump’s recent commutation of ex-Rep. George Santos’s sentence, signaling a bold pro-crypto stance from the former president.