Who is Changpeng Zhao? Convicted Binance founder and McGill graduate pardoned by Donald Trump
US President Donald Trump has issued a pardon for Changpeng Zhao, the Chinese-born Canadian founder of the cryptocurrency exchange Binance, according to a White House official. The announcement, made on Thursday, marks the latest in a series of clemency actions by the president towards figures in the cryptocurrency sector and other convicted individuals. In a statement, White House press secretary Karoline Leavitt said Trump had “exercised his constitutional authority by issuing a pardon for Mr. Zhao, who was prosecuted by the Biden Administration in their war on cryptocurrency.”Zhao, commonly known as CZ, resigned as the chief executive officer of Binance in November 2023 following a guilty plea to a money laundering charge in the United States. He was sentenced to four months in prison in April 2024 and completed his sentence by September of the same year. Despite this setback, Zhao remains a prominent figure in global finance. Forbes ranked him as the 21st-richest person in the world and the wealthiest Canadian, with an estimated net worth of $88.0 billion as of October 2025.Beyond his business ventures, Zhao has taken on advisory roles internationally. In April 2024, he was appointed as a strategic advisor to the Pakistan Crypto Council, guiding policy and promoting blockchain technology in the country. In May 2025, he became an advisor to the President of Kyrgyzstan, Sadyr Japarov, on the development of digital assets. These positions indicate a continued influence in shaping the global cryptocurrency ecosystem.
Early life and education
Born in 1977 in Lianyungang, Jiangsu province, China, Zhao moved to Canada with his family at the age of twelve, settling in Vancouver, British Columbia. His parents, both educators in China, emphasised the value of learning. Zhao assisted his family financially during his teenage years by holding several service jobs, including working at a fast-food restaurant and a gas station.He pursued higher education at McGill University in Montreal, Quebec, where he majored in computer science. The technical foundation he gained at McGill would later prove instrumental in his ventures in financial technology and cryptocurrency.
Early career in finance and technology
After graduation, Zhao undertook an internship in Tokyo with a subcontractor of the Tokyo Stock Exchange, developing software for matching trade orders. He then worked full-time for four years at Bloomberg Tradebook, where he specialised in futures trading systems.
Launching businesses and embracing cryptocurrency
In 2005, Zhao moved to Shanghai to launch his first technology start-up, Fusion Systems, which became known for providing some of the fastest automated high-frequency trading platforms for stockbrokers. His introduction to bitcoin came in 2013, during a poker game with Bobby Lee, who advised investing a portion of his wealth in the cryptocurrency. Zhao chose to invest fully, selling his Shanghai apartment to acquire bitcoin, an early decision that would shape the trajectory of his career.That same year, he contributed to Blockchain.info and served as Chief Technology Officer of OKCoin. His vision culminated in the founding of Binance, which grew into one of the world’s largest cryptocurrency exchanges. In 2022, Zhao also invested $500 million through Binance to support Elon Musk’s acquisition of Twitter.The recent pardon by Trump not only restores Zhao’s personal and professional standing in the United States but also reinforces his continued influence in the international cryptocurrency ecosystem.
