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Trump Pardons Binance Founder Zhao after Conviction for Money Laundering

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US President, Donald Trump, has pardoned Binance founder Changpeng Zhao, the billionaire who built the world’s largest cryptocurrency exchange and later served prison time for compliance failures linked to money laundering and illicit activity.

The decision ends a months-long push by Zhao, known widely in the crypto world as “CZ”, to clear his record. The Binance founder has long been seen as one of the most influential figures in the digital asset space and a key supporter of the Trump family’s crypto ventures.

“Deeply grateful for today’s pardon and to President Trump for upholding America’s commitment to fairness, innovation, and justice,” Zhao wrote on social media on Thursday.

The case against Zhao

Zhao served a four-month sentence for violating the Bank Secrecy Act, becoming the first person ever jailed under the law, which requires financial institutions to verify customers’ identities and report suspicious transactions.

Prosecutors said Zhao’s violations were unprecedented, accusing Binance of facilitating more than 1.5 million illegal crypto trades worth nearly $900 million. Those transactions allegedly included dealings with sanctioned groups such as Hamas’ al-Qassam Brigades, al-Qaida, and Iran.

Judge Richard Jones, who oversaw the case, said Zhao’s refusal to comply with US banking rules allowed Binance’s explosive growth. Prosecutors cited Zhao telling employees, Better to ask for forgiveness than permission, when referring to the company’s approach to regulation.

“I failed here,” Zhao told the court during sentencing. “I deeply regret my failure, and I am sorry.”

Zhao’s rise is one of tech’s most striking rags-to-riches stories.

Born in rural China, he immigrated to Canada with his family after the 1989 Tiananmen Square crackdown. As a teen, he worked at McDonald’s before turning to tech in college.

He launched Binance in 2017, and within a few years, it had become a global powerhouse in digital finance.

White House defends pardon

White House Press Secretary Karoline Leavitt confirmed the pardon, saying the counsel’s office had thoroughly reviewed the request.

She accused the previous Biden administration of pursuing “an egregious oversentencing” and adopting a very hostile stance toward the crypto industry.

“President Trump wants to correct this overreach,” Leavitt said, drawing a clear contrast between the two administrations’ approaches to digital finance.

Trump’s move continues his pattern of using presidential clemency to aid political allies, public figures, and others convicted of controversial crimes.

Since taking office, the Trump administration has dropped several enforcement actions against crypto firms initiated under Biden and even dissolved a Justice Department unit focused on crypto-related crimes.

Trump and his sons have also embraced crypto. Their venture, World Liberty Financial, launched a dollar-backed stablecoin that gained early traction after an Abu Dhabi investment fund used $2 billion worth of the token to buy a stake in Binance.

Following news of Zhao’s pardon, the value of another Trump-linked token, World Liberty Finance’s secondary coin, surged sharply, outperforming every major cryptocurrency on Thursday, according to CoinMarketCap.

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Obasanjo Knocks Tinubu’s Govt over Inability to Protect Lives, Property

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Former President Olusegun Obasanjo has lambasted the administration of President Bola Tinubu over insecurity bedeviling the country.

In an interview with News Central, Obasanjo said any government that cannot protect lives and property of its citizens has no basis to exist.

The former leader was reacting to the recent wave of insecurity, which has confronted Nigeria, resulting in the killing of several citizens and abduction of others.

“Let me tell you, the government that cannot give security of life and property of its citizen has no right of existence.

“The elected members of our National Assembly have no right to fix their own salary and their own emolument.

“It’s not in our constitution for them to do that. It’s the revenue mobilization and allocation commission that should do it,” he said.

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2027: NDC Woos Obi, Kwankwaso with Presidential Ticket

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The Nigeria Democratic Congress (NDC) has offered its presidential ticket to Peter Obi and Rabiu Kwankwaso ahead of the 2027 elections, signaling intensifying efforts to forge a united opposition as key political deadlines approach.

In a post on X on Sunday, the party indicated a two-week window for both politicians, currently linked to the African Democratic Congress (ADC), to defect and secure its platform’s presidential ticket.

“All we need right now. Just all we need. Two weeks to deadline,” the NDC said, accompanying the message with an image of Obi and Kwankwaso and the caption: “Nigeria will be OK.”

The development comes amid renewed calls for opposition consolidation ahead of the next general elections. Supporters of both men recently launched the “OK Movement”, aimed at mobilising support for a possible joint ticket.

Organisers of the movement have begun setting up national, zonal and State structures, suggesting early groundwork for a broader political alliance.

However, the ADC is currently grappling with internal divisions that could affect its participation in the elections. The party is facing a leadership crisis, with competing factions contesting control of its structure.

The dispute is now before the Supreme Court of Nigeria, which has reserved judgment in an appeal arising from the leadership tussle.

The uncertainty comes as the Independent National Electoral Commission (INEC) maintains its timetable for the 2027 polls, setting May 30, 2026, as the deadline for political parties to submit membership registers and nominate candidates.

Opposition parties, including factions of the Peoples’ Democratic Party (PDP) and the New Nigeria Peoples Party (NNPP), have called for an extension of the timeline, arguing that the schedule is too tight given ongoing internal restructuring and legal disputes.

The NDC’s offer highlights the shifting dynamics within Nigeria’s opposition landscape, where alliances remain fluid and negotiations are ongoing.

Both Obi and Kwankwaso are influential political figures with significant regional support bases, and any alignment between them could reshape the balance of power ahead of the elections.

INEC has yet to indicate whether it will adjust its timetable, as preparations for the 2027 general elections continue to gather momentum.

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Atiku Raises Alarm over Alleged Plot to Disenfranchise Northern Voters

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Former Vice President Atiku Abubakar has expressed concern over reports that the Senate is considering the suspension of political campaigns in eight Northern states under the pretext of rising insecurity.

Atiku, in a statement issued by his Senior Special Assistant on Public Communication, Phrank Shaibu, described the development as deeply troubling and fraught with dangerous implications for Nigeria’s democracy.

He noted that while insecurity remains a serious national challenge that must be confronted decisively, it must never become a convenient justification for undermining constitutional rights or selectively restricting democratic participation.

“Let it be clearly stated: the right to vote and participate in the electoral process is fundamental and cannot be abridged under any guise. Any attempt—whether deliberate or disguised—to suppress political activities in parts of Northern Nigeria raises legitimate concerns about disenfranchisement,” Atiku said.

The Waziri Adamawa recalled that credible intelligence had earlier pointed to possible plans to weaken electoral participation in key Northern states, warning that recent developments appear to be lending credence to those fears.

“This is not merely about campaigns; it is about representation, inclusion, and the integrity of our democratic process. You cannot cure insecurity by silencing the voices of the people. Democracy must not become a casualty of government failure,” he added.

The former Vice President stressed that the people of Northern Nigeria, like all Nigerians, deserve both security and full participation in the democratic process — not one at the expense of the other.

He added that it is the responsibility of government to provide security for its citizens, while it remains the duty of citizens to freely exercise their civic rights without fear, intimidation, or unlawful restriction.

“At a time when citizens are already battling hardship and insecurity, the least the government can do is to guarantee their right to be heard — not to restrict it. Any policy that creates the impression of targeted exclusion will only deepen distrust and national division,” he warned.

He called on the Independent National Electoral Commission, security agencies, and the administration of Bola Ahmed Tinubu to immediately clarify their position and reassure Nigerians that no region will be denied its constitutional rights.

“Nigeria must never descend into a situation where elections are shaped by exclusion, fear, or administrative manipulation. The consequences of such actions are far-reaching and better imagined than experienced,” Atiku cautioned.

He urged all stakeholders to uphold the principles of fairness, equity, and national unity, emphasising that democracy must remain inclusive, transparent, and credible across every part of the country.

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