The Justice Department describes Changpeng Zhao as Binance's founder, owner and chief executive officer, and a Canadian national. Binance launched its exchange in 2017 and grew into the largest venue of its kind.
On 21 November 2023 Zhao pleaded guilty in the US District Court for the Western District of Washington to failing to maintain an effective anti-money-laundering programme, in violation of the Bank Secrecy Act, and resigned as chief executive on the same day. According to the Department, he admitted that he understood Binance served US users and was therefore required to register with FinCEN and run such a programme, and that he prioritised growth over compliance.
The Department's clemency records show he was sentenced on 30 April 2024 to four months' imprisonment and a fine of USD 50,000,000, and that on 21 October 2025 he was granted a full and unconditional presidential pardon for that offence.
Separately, the Commodity Futures Trading Commission named him as a defendant in its March 2023 civil complaint over Binance's operation of an unregistered derivatives exchange.