CZ’s Trump pardon followed costly Binance lobbying blitz in Washington: Politico
WASHINGTON — Former Binance CEO Changpeng “CZ” Zhao’s presidential pardon by Donald Trump came after an extensive and costly lobbying campaign aimed at winning favor within the new administration, according to a report by Politico.
Zhao, who served a four-month prison sentence last year for violating U.S. anti–money laundering (AML) laws, was among several high-profile figures granted clemency by Trump earlier this month. Politico reported that Zhao’s pardon followed months of lobbying by Binance and its allies targeting Trump’s inner circle and key government agencies.
$450,000 paid to Trump-linked lobbyists
In late September, Binance hired Ches McDowell, a longtime associate of Donald Trump Jr., and his firm Checkmate Government Relations to lobby the White House and U.S. Treasury Department on “executive relief” matters, the report said.
Checkmate, one of Washington’s fastest-growing lobbying firms, reportedly received $450,000 for a single month of work on behalf of Binance. The firm has earned $7.1 million in total revenue over the last three months, according to Politico.
Binance, Zhao retain ex-SEC chair contender
Earlier this year, Binance and Zhao also retained Teresa Goody Guillén, a crypto-focused attorney who was once considered for the role of SEC chair under Trump. Her firm has earned $290,000 from Binance and Zhao so far in 2025, the report noted.
Binance has a long history of spending heavily on lobbying. The exchange poured more than $1 million into Washington efforts in 2022, though operations slowed after its 2023 plea deal with U.S. authorities. Since Trump’s return to office, Binance has resumed lobbying at full force, spending $860,000 this year alone and expanding its influence through new partnerships — including with World Liberty Financial, a venture linked to the Trump network.
Political fallout over Trump’s decision
The pardon has drawn sharp criticism from Representative Maxine Waters (D-Calif.), who called the move “a massive favor for crypto criminals.”
“Trump just pardoned a man who admitted to breaking U.S. money-laundering laws,” Waters said in a statement last week. “This is appalling but unsurprising — it comes after months of lobbying and funneling billions into Trump’s personal crypto company, World Liberty Financial.”
Trump defended the decision, claiming Zhao had been “persecuted by the Biden administration” and insisting that “what he did is not even a crime.”
Binance’s ongoing push for legitimacy
The lobbying campaign underscores Binance’s broader push to repair its image and rebuild U.S. ties following a series of regulatory clashes. Zhao, who resigned as CEO in 2023 as part of a plea deal with the U.S. Department of Justice, remains one of the most influential figures in the global crypto industry.
Despite the controversy surrounding his pardon, Zhao’s return to public life — combined with Binance’s renewed political spending — signals that the exchange is betting heavily on a friendlier regulatory climate under Trump.
