Trump's Pardon of CZ Follows Extensive Lobbying by Binance
The pardon of Changpeng Zhao from his previous legal troubles is attributed to a significant lobbying effort involving substantial financial contributions to key political figures.
Former Binance CEO Changpeng “CZ” Zhao was granted a pardon by US President Donald Trump following a substantial lobbying effort in Washington. The campaign reportedly involved $450,000 paid to lobbyists associated with Trump and $290,000 to Teresa Goody Guillén, who was a candidate for the SEC chair position.
In late September, Binance employed Ches McDowell’s firm, Checkmate Government Relations, to advocate for “executive relief,” resulting in a significant compensation for their work. Checkmate has been one of the rapidly growing lobbying firms in Washington, making millions in revenue recently.
Reports, including a recent one from Politico, have detailed the extensive ’executive relief’ lobbying activities initiated by Binance while Zhao faced legal troubles.
Related:
Further Developments:
In February, Zhao and Binance retained Teresa Goody Guillén to support their legal matters, reflecting their ongoing commitment to address regulatory scrutiny. Zhao’s legal disputes previously reached a peak last year when he served a four-month sentence due to violations relating to US money laundering laws.
Trump has defended his actions by suggesting that Zhao’s issues with the Biden administration were unwarranted, claiming that Zhao’s actions did not legally constitute a crime. In contrast, Rep. Waters expressed outrage over this pardon, labeling it as favoritism for those in the crypto sector and alleging that it was influenced by significant financial contributions to Trump’s ventures.
