CZ Zhao: Binance's $4.3 Billion Fine

Built the world's biggest crypto exchange. Pleaded guilty. Served 4 months. Got pardoned by Trump. Now advises governments.

Changpeng Zhao - CZ - built Binance into the largest cryptocurrency exchange on Earth. At its peak, Binance handled more trading volume than all its competitors combined. CZ became one of the richest people in the world, with a net worth estimated at $60 billion. He did this by deliberately ignoring anti-money laundering laws.

Binance operated from nowhere and everywhere. No official headquarters. It actively avoided regulatory oversight. Internal communications revealed that Binance knowingly served customers in sanctioned countries including Iran, Cuba, and Syria. The exchange processed transactions for Hamas, Al-Qaeda-linked entities, and Russian darknet markets. In 2017, it was estimated that 95% of all ransomware payments were processed through exchanges using Binance as a hub.

In November 2023, CZ pleaded guilty to violating the Bank Secrecy Act, paid a $50 million personal fine, and stepped down as CEO with a lifetime ban from executive roles at Binance. Binance agreed to pay $4.3 billion in corporate fines.

CZ was sentenced to just four months in federal prison in April 2024. The judge said he had never seen such a departure from guidelines - prosecutors had asked for three years. CZ served his time at a minimum-security facility in Lompoc, California and was released on September 27, 2024. He was the richest person ever to go to federal prison.

After release, CZ rebuilt influence at remarkable speed. He was appointed advisor to Pakistan's Crypto Council (April 2025) and to the president of Kyrgyzstan (May 2025). He launched YZi Labs for investments and Giggle Academy for education. A February 2025 post about his dog Broccoli triggered a BNB Chain memecoin frenzy that briefly surpassed Solana's main trading venues.

On October 23, 2025, President Trump granted CZ a full pardon. The Wall Street Journal had reported Binance was administering a trading platform for Trump's World Liberty Financial. Binance spent $800,000 lobbying for clemency. Senator Warren called it "appalling corruption." Trump told 60 Minutes he had "no idea who" CZ was.

CZ's case is unique on this list because Binance survived, he kept his fortune, and he got pardoned. Four months in a low-security facility for years of enabling global money laundering, followed by a presidential pardon. Arguably the best deal in crypto criminal history.