"Pardoning of Changpeng Zhao Shows Influence of Crypto Lobbyists"

U.S. President Donald Trump pardoned Changpeng Zhao, the founder of Binance, the world's largest virtual asset (cryptocurrency) exchange, prompting claims that crypto lobbyists' influence in politics is expanding.

On the 26th (Korean time), U.S. political outlet Politico reported that behind Changpeng Zhao's pardon were multiple lobbying activities involving associates of President Trump.

Binance reportedly carried out lobbying through several individuals. First, Binance paid $450,000 in lobbying consulting fees to Checkmate Government Relations, run by Ches McDowell, who is known to be an acquaintance of Donald Trump Jr., at the end of September.

Also, crypto-specialist attorney Teresa Gudi Giyen was identified as someone who helped with lobbying. Attorney Giyen had been mentioned as a candidate for chair of the Securities and Exchange Commission (SEC) in the Trump administration. Binance and Changpeng Zhao hired Attorney Giyen last February and paid $290,000 in lobbying consulting fees. After Changpeng Zhao's pardon was announced, he wrote on his X (formerly Twitter), "I express my gratitude for President Trump's courage and clarity."

Politico assessed that "the crypto industry is strengthening its influence within Washington's political circles against the backdrop of the Trump administration's pro-crypto stance."