Binance Spent $740,000 Lobbying for Trump Pardon of Changpeng Zhao
New details have emerged about how Binance secured a presidential pardon for its founder Changpeng Zhao (CZ) from US President Donald Trump. According to Politico, the effort followed a costly months-long lobbying campaign in Washington that exceeded $740,000.
Inside the Lobbying Operation
Zhao’s pardon came after Binance engaged in an extensive lobbying drive targeting key decision-makers in Trump’s inner circle. The campaign intensified in late September, when Binance hired Ches McDowell—a longtime ally of Donald Trump Jr.—and his firm Checkmate Government Relations of North Carolina. Checkmate was tasked with promoting an “executive clemency initiative” within the White House and the Department of the Treasury.Checkmate, one of Washington’s fastest-growing lobbying firms, received a payment of roughly $450,000 for just one month of work, underscoring the seriousness of Binance’s intent. The firm leveraged its network among conservative lawmakers and administration officials to advocate for Zhao’s case.
Political Context and Outcome
Zhao had served a four-month prison sentence in 2024 after pleading guilty to anti-money-laundering (AML) violations. Despite completing his term, legal experts say a full pardon restores his eligibility to operate financial entities and removes remaining travel restrictions—an important step for Binance’s strategic return to the US market.Trump reportedly viewed Zhao as a symbol of the previous administration’s “war on crypto” and framed the pardon as a pro-innovation decision. The move followed a series of pro-crypto gestures, including Trump’s public endorsement of World Liberty Financial and clemency for other figures like Ross Ulbricht.
A Costly but Strategic Victory
According to lobbying disclosures and insider reports, Binance’s total expenditure on Zhao’s clemency effort exceeded $740,000. In addition to Checkmate’s retainer, the company’s legal team and political advisors orchestrated a high-level outreach campaign across Capitol Hill and federal agencies. The push aimed to reframe Zhao’s case as one of regulatory overreach rather than criminal intent.While critics called the pardon a sign of political favoritism, market observers note that the decision paves the way for Binance’s re-entry into US markets and strengthens its legitimacy among pro-crypto policymakers.
Conclusion
Binance’s $740,000 lobbying effort highlights how deeply intertwined cryptocurrency regulation and politics have become in the United States. For Changpeng Zhao, the pardon not only restores his public standing—it also symbolizes a broader turning point in Washington’s evolving stance toward digital assets and corporate accountability in the crypto era.Editorial Team — CoinBotLab