VALLETTA (MALTA) (ITALPRESS/MNA) – Malta’s long-standing connection to Binance has returned to the spotlight following US President Donald Trump’s decision to pardon Changpeng Zhao, the billionaire founder of the cryptocurrency exchange.
Zhao, widely known as “CZ”, had pleaded guilty to money-laundering violations in 2023 and served four months in federal prison. His company, Binance, paid a $4.3 billion settlement to end a US investigation into alleged financial misconduct.
“President Trump exercised his constitutional authority by issuing a pardon for Mr Zhao, who was prosecuted by the Biden Administration in their war on cryptocurrency,” said White House spokeswoman Karoline Leavitt. “The Biden Administration’s war on crypto is over.”
Zhao’s ties to Malta date back to 2018, when he visited the island after the government introduced blockchain-friendly laws aimed at attracting crypto businesses and branding Malta as a “blockchain hub.”
Binance has re-emerged in Maltese headlines this month after the Malta Community Chest Fund (MCCF) rejected a donation from the company — now valued at $39 million — over reputational and privacy concerns.
Prime Minister Robert Abela criticised the MCCF’s decision as “too hasty,” while President Myriam Spiteri Debono defended it, saying, “You either donate to charity, or you don’t. You don’t dance around it.”
Binance has not commented on the ongoing Maltese controversy.
– Photo IPA Agency –
(ITALPRESS).
