President Donald Trump pardoned Binance co-founder Changpeng Zhao, White House press secretary Karoline Leavitt confirmed to ABC News on Thursday.

The president pardoned the founder of the cryptocurrency exchange Binance -- a key supporter of the Trump family's crypto venture that has boosted the president's wealth.

Zhao stepped aside as chief executive at the company in the same year, paid a fine of $50 million and served nearly four months in prison in 2024, after pleading guilty to related charges.