Zhao was prosecuted by the Biden administration "in their war on cryptocurrency," White House press secretary Karoline Leavitt said in a statement.
Since he returned to office, Trump's family has reaped millions of dollars from a variety of crypto ventures - moves criticized by political rivals and ethics experts citing the potential for conflicts of interest. The White House has denied those claims and on Thursday Leavitt said it carefully examined all pardons.
In a post on social media platform X, Zhao said he was "deeply grateful for today’s pardon and to President Trump for upholding America’s commitment to fairness, innovation, and justice." He added: "Will do everything we can to help make America the Capital of Crypto."
FULL AND UNCONDITIONAL PARDON
U.S. authorities said in 2023 that Binance had failed to report suspicious transactions with organizations including Hamas and al Qaeda and with websites dedicated to selling child sexual abuse materials.
Zhao, a citizen of Canada who was born in China, personally paid a $50 million fine and served nearly four months in prison last year after pleading guilty to the same charge as his company.
However, he kept his Binance stake, while one of his appointees was made chief executive.
"I made mistakes, and I must take responsibility," Zhao said when he stepped down.
The full and unconditional pardon could pave the way for him to return to the business he co-founded in 2017. It may also offer the chance for Binance to expand in the United States as the crypto industry booms under the Trump administration.