In a strongly worded official statement, Representative Maxine Waters has denounced the presidential pardon granted to Binance founder Changpeng Zhao. The California Democrat highlighted Zhao’s 2023 guilty plea and subsequent legal penalties, emphasizing that the pardon raises significant questions about investor protection standards in the cryptocurrency sector. Waters expressed concern that this executive action could potentially allow Zhao to resume leadership responsibilities at the global digital asset exchange, despite previous regulatory violations. The congresswoman’s critique has reignited discussions about corporate governance standards within major cryptocurrency enterprises and the appropriate consequences for regulatory non-compliance. Waters’ statement underscores ongoing tensions between regulatory oversight and executive clemency powers in matters involving prominent figures in the digital currency industry. The development comes amid continued scrutiny of Binance’s operational practices and leadership structure following previous settlements with financial authorities.
