"Zhao had asked Trump for a pardon previously. He 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 financial disclosure report reveals he made more than $57 million last year from World Liberty Financial, which has launched USD1, a stablecoin pegged at a 1-to-1 ratio to the U.S. dollar."
"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. "I failed here," Zhao told the court last year. "I deeply regret my failure, and I am sorry.""
President Donald Trump granted a pardon to Binance founder Changpeng Zhao, who served prison time after failing to stop criminals from using the exchange to move money tied to child sex abuse, drug trafficking, and terrorism. Zhao had previously requested a presidential pardon. Zhao has strong connections to World Liberty Financial, a crypto venture launched by Trump and his sons that issued the USD1 stablecoin. Trump's financial disclosure shows more than $57 million in income last year from World Liberty Financial. World Liberty announced a UAE investment fund would use $2 billion in USD1 to buy a stake in Binance. The White House press secretary accused the Biden administration of prosecuting Zhao to punish the cryptocurrency industry while noting there were no allegations of fraud or identifiable victims.
Read at Fast Company
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