CZ’s pardon came after costly Binance lobbying push in Washington: Politico

Former Binance CEO Changpeng “CZ” Zhao’s pardon by US President Donald Trump came after an extensive and expensive lobbying campaign in Washington.

Zhao, who served a four-month prison sentence last year for violating US Anti-Money Laundering (AML) laws, benefited from a months-long effort by Binance and its legal team to win over key figures in Trump’s orbit, according to a Sunday report by Politico.

In late September, Binance hired Ches McDowell, a close associate of Donald Trump Jr., and his North Carolina-based firm Checkmate Government Relations to lobby the White House and Treasury Department on “executive relief,” the report claimed.

Checkmate, one of Washington’s fastest-growing firms, received $450,000 for one month’s work. The firm has also racked in $7.1 million in revenue during the last three months alone, according to Politico.

Related: Binance founder CZ’s presidential pardon is not an acquittal

Binance, CZ paid $290,000 to ex-SEC pick Teresa Goody Guillén

In February, shortly after Trump’s inauguration, Binance and Zhao also retained Teresa Goody Guillén, a crypto lawyer once considered for the SEC chair role under Trump. Her firm has earned $290,000 from Binance and Zhao this year alone.

Binance’s latest lobbying efforts come as the company previously spent over $1 million on lobbying in 2022 before pausing operations after its 2023 plea deal, per the report.

This year, under the Trump administration, the company has already spent $860,000 on lobbying and expanded its presence through partnerships, including one with the Trump-linked World Liberty Financial venture.

Related: Polymarket bets that Sam Bankman-Fried gets pardon surge to 12%

Maxine Waters blasts Trump for pardoning CZ

Last week, US Representative Maxine Waters condemned Trump’s pardon of CZ, calling it a “massive favor for crypto criminals.” Trump justified the decision by saying Zhao “was persecuted by the Biden administration” and that “what he did is not even a crime.”