On April 30, 2024, U.S. District Judge Richard Jones sentenced Binance founder and then-CEO Changpeng Zhao to four months in prison after Zhao pleaded guilty to willfully violating the Bank Secrecy Act. Zhao later served the sentence and received a presidential pardon in October 2025. The pardon is separate from Binance’s corporate case and does not, based on the available reporting, establish a change to the company’s obligations.
What did Changpeng Zhao plead guilty to?
Zhao pleaded guilty to a felony charge of willfully violating the Bank Secrecy Act. The Justice Department said he failed to maintain an effective anti-money-laundering program at Binance. The law requires financial institutions to maintain safeguards against money laundering and terrorist financing, as Attorney General Merrick Garland said when announcing the plea.
Garland described the individual charge this way: “That is why we have also filed a felony charge against, and secured a guilty plea from, Changpeng Zhao for willfully violating the Bank Secrecy Act.” The Justice Department’s November 21, 2023 announcement also outlined Binance’s separate corporate resolution.
Why was CZ sentenced to four months?
The prison term followed Zhao’s guilty plea and was imposed by Judge Richard Jones in Seattle on April 30, 2024. Prosecutors had asked for a 36-month sentence. Reuters reported that the federal-guidelines maximum in this case was 18 months; those figures describe the sentencing arguments and guidelines as reported for Zhao’s case, not a general rule for Bank Secrecy Act offenses.
Outdated Drivers Are Slowing You Down
One free scan finds every outdated or missing driver and matches the right update for your exact hardware.Free scan · exact hardware matchWindows Errors? Fix Them Before They Spread
Repair common Windows errors and clear accumulated junk for a smoother, more stable PC - no reinstall needed.Free scan · no reinstall#1 Best Overall
- Effortlessly build your crypto portfolio via the all in one Ledger Wallet app: buy, sell, send, receive, swap, stake and more across popular blockchains. 15,000+ coins & tokens in a single dashboard. Keep a close eye on the market. Compare service providers. Track performance. Get timely alerts. Build your portfolio with confidence.
- Effortlessly build your crypto portfolio via the all in one Ledger Wallet app: buy, sell, send, receive, swap, stake and more across popular blockchains. 15,000+ coins & tokens in a single dashboard. Keep a close eye on the market. Compare service providers. Track performance. Get timely alerts. Build your portfolio with confidence.
- Enjoy Bluetooth connectivity, iOS access, and hours of battery use with this mobile-first, secure backup signer. Freedom you can depend on.
- Genuine Check: confirm your signer is authentic during setup with the Ledger Wallet app.
- Protect your signer: keep it in mint condition at all times with a bespoke Pod or Case to avoid scratches and everyday wear and tear.
U.S. Attorney Tessa Gorman said after sentencing, “Incarceration was critical in this case and we’re pleased with the result.” Reuters reported that Zhao received four months, less than prosecutors had sought. Reuters’ April 30, 2024 sentencing report covers the decision and the government’s request.
How was Zhao’s case different from Binance’s?
Zhao’s plea and prison sentence were individual. Binance separately pleaded guilty to three corporate offenses: willfully violating the Bank Secrecy Act, knowingly failing to register as a money-transmitting business, and willfully violating the International Emergency Economic Powers Act.
Rank #2
- Proven security at scale: Over 9 years and millions of cards issued with no known remote hacks, while military‑grade EAL6+ security keeps your private keys locked inside the chip. Your cryptocurrencies stay strongly protected from online attackers.
- Tap once to manage your entire crypto wallet across 90 blockchains - no USB cables or Bluetooth, no batteries, no setup. Access 14,100+ coins & tokens, DeFi, NFTs, and staking instantly from your phone
- Smart backup: Use your second Tangem Wallet as your Backup keys with end‑to‑end encryption; no more papers, pictures. If one card is lost, the remaining can still restore full access, with an optional seed phrase available for advanced users.
- Engineered to last up to 25 years: Waterproof (IP69K), shockproof and tested for extreme temperatures from −25°C to 50°C. A durable cold wallet with long‑term protection and independently audited security.
- Trusted by 6 million users worldwide (4.9 App Store, 4.8 Google Play) - buy, sell, swap, stake, and spend cryptocurrency directly. The secure offline storage wallet designed for how people actually use crypto wallets
| Case | Outcome described by the sources |
|---|---|
| Changpeng Zhao, individual | Guilty plea to willfully violating the Bank Secrecy Act; four months in prison, imposed April 30, 2024. |
| Binance, company | Guilty pleas to three offenses; DOJ said the resolution included $4.3 billion in penalties and forfeiture, a monitorship, and reporting requirements. |
The $4.3 billion was the amount DOJ attributed to Binance’s corporate resolution. It was not Zhao’s personal fine or prison sentence. The company’s plea and requirements are not erased by the later pardon of Zhao.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Was CZ pardoned, and what did that change?
Yes. Zhao served his four-month sentence, and President Donald Trump granted him a pardon in October 2025. The Congressional Record identifies October 23, 2025, as the pardon date. The record is a Senate resolution’s recital of the pardon, rather than the pardon instrument itself. The October 23, 2025 Congressional Record states that Trump granted Zhao a full pardon. The Associated Press also reported the pardon and Zhao’s completed sentence.
The Tool Desk
Outbyte PC Repair FREEClear out junk files and repair common Windows errorsFree Scan →Outbyte Driver Updater FREEScan for outdated or missing drivers - takes under a minuteDriver Scan →Rank #3
- Proven security at scale: Over 9 years and millions of cards issued with no known remote hacks, while military‑grade EAL6+ security keeps your private keys locked inside the chip. Your cryptocurrencies stay strongly protected from online attackers.
- Tap once to manage your entire crypto wallet across 90 blockchains - no USB cables or Bluetooth, no batteries, no setup. Access 14,100+ coins & tokens, DeFi, NFTs, and staking instantly from your phone
- Smart backup: Use your second Tangem Wallet as your Backup keys with end‑to‑end encryption; no more papers, pictures. If one card is lost, the remaining can still restore full access, with an optional seed phrase available for advanced users.
- Engineered to last up to 25 years: Waterproof (IP69K), shockproof and tested for extreme temperatures from −25°C to 50°C. A durable cold wallet with long‑term protection and independently audited security.
- Trusted by 6 million users worldwide - buy, sell, swap, stake, and spend cryptocurrency directly. The secure offline storage wallet designed for how people actually use crypto wallets
AP said at the time that the pardon’s immediate effect on Binance and Binance.US operations was unclear. The sources establish the reported pardon, but not its precise legal scope or subsequent operational consequences; they do not show that it changed Binance’s corporate obligations. Trump was quoted by AP as saying Zhao “was recommended by a lot of people.” That is the president’s stated view, not a finding about the case.
Quick Recap
Best Value
- Dual-chip architecture for maximum protection: The next-gen, fully auditable TROPIC01 chip works alongside a certified EAL6+ Secure Element—completely NDA-free—to deliver radically transparent, industry-leading defense against physical attacks.
- Quantum-ready security: Get protection against future threats with the first-ever hardware wallet designed with quantum-ready architecture.
- See every detail with confidence: Our largest high-resolution color touchscreen makes it easy to navigate your assets, review transactions and manage your coins with clarity.
- Wireless freedom with encrypted Bluetooth control: Manage, buy, swap and stake securely using Trezor Suite on desktop or mobile. Qi2-compatible wireless charging keeps your Trezor powered up. No cables required—security meets convenience.
- Works seamlessly with Android, iOS and desktop: Connect wirelessly or via USB-C to your phone or computer. Manage your crypto anywhere with our companion Trezor Suite app.
Rank #4
- EAL5+ CERTIFIED SECURE ELEMENT + FINGERPRINT PROTECTION — Your private keys stay encrypted offline on a certified EAL5+ chip, the same security tier used in EMV bank cards. Built by DCENT, securing crypto since 2018. Fingerprint authentication adds a second layer no PIN-only wallet can match.
- 10,000+ ASSETS NATIVE ON 100+ BLOCKCHAINS — Hold Bitcoin, Ethereum, XRP, Solana, Cardano, popular stablecoins (USDT, USDC), and NFTs in one wallet. No third-party apps, no fragmented setup — every supported asset works straight out of the box.
- TAP-TO-SIGN MOBILE EXPERIENCE — Pair your wallet with the DCENT mobile app over Bluetooth. Manage tokens, review transactions, and access in-app swap features directly from your phone — no cables, no desktop required.
- WEB3 & dAPP ACCESS VIA METAMASK — Connect to MetaMask and other browser extension wallets to manage NFTs, claim airdrops, and access dApps. A large screen and intuitive 4-button interface keep every transaction clearly visible before you sign.
- SEAMLESS FIRMWARE UPDATES & 30-DAY MONEY-BACK GUARANTEE — Apply security updates without resetting your wallet or migrating funds. Backed by Amazon's 30-day money-back guarantee — your purchase is risk-free.
Key dates in the case
- August 2017: DOJ said Zhao founded Binance as a cryptocurrency trading platform.
- November 21, 2023: Binance and Zhao pleaded guilty, according to DOJ.
- April 30, 2024: Judge Richard Jones sentenced Zhao to four months in prison in Seattle.
- October 23, 2025: The Congressional Record dates Trump’s pardon of Zhao to this day.
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
