Binance’s Washington Playbook: How Money Helped Secure CZ’s Pardon

Former Binance chief Changpeng “CZ” Zhao’s presidential pardon from Donald Trump didn’t come out of thin air.

According to recent reports, it followed months of high-powered lobbying and a major financial push by Binance and its allies to sway Washington decision-makers.

Politico revealed that Binance’s lobbying campaign intensified in the months before Trump granted clemency. In late September, the exchange brought on Checkmate Government Relations – a firm led by Trump Jr.’s close associate Ches McDowell – to lobby the White House and Treasury on “executive relief.” The contract, worth $450,000 for a single month, was part of a wider effort that has seen Checkmate’s revenues surge past $7 million in just one quarter.

Earlier this year, Binance and Zhao also tapped Teresa Goody Guillén, a crypto lawyer once floated as a potential SEC chair under Trump, paying her firm nearly $290,000. Combined with earlier lobbying expenditures exceeding $1 million in 2022, the campaign marks one of Binance’s most aggressive political undertakings yet.

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Since Trump’s return to office, Binance has already spent around $860,000 more on lobbying, while building ties to the Trump-linked venture World Liberty Financial – a partnership that has raised eyebrows in Washington.

The political backlash has been swift. Representative Maxine Waters denounced the pardon as a “favor for crypto criminals,” citing Zhao’s prior guilty plea to violating U.S. anti-money laundering laws. Trump, however, defended his decision, calling Zhao’s prosecution “politically motivated” and insisting that “what he did is not even a crime.”

The episode underscores how deeply intertwined the crypto industry has become with American politics – and how influence, money, and access continue to shape outcomes at the highest levels of power.