WASHINGTON / LONDON (IT BOLTWISE) – President Donald Trump’s pardon of Binance founder Changpeng Zhao shows the growing influence of lobbyists with close ties to the government. This development underscores the importance of lobbying in the current U.S. political landscape.
Today’s daily deals at Amazon! ˗ˋˏ$ˎˊ˗
President Donald Trump’s recent pardon of Changpeng Zhao, founder of cryptocurrency exchange Binance, caused a stir in Washington. Zhao, who was previously convicted of violating money laundering laws, received the pardon after intense lobbying by influential circles with ties to the Trump administration. This decision highlights the power of lobbyists in the US capital, particularly those with direct channels to the White House.
The role of Ches McDowell, a close friend of Donald Trump Jr. and head of the lobbying firm Checkmate Government Relations, was crucial to Zhao’s pardon. McDowell’s company, which recently opened an office in Washington, brought in $7.1 million in revenue in the last three months alone. Binance paid Checkmate $450,000 for lobbying efforts focused on financial policy issues and “executive relief.”
Back in February, shortly after Trump’s inauguration, Zhao and Binance hired renowned crypto lawyer Teresa Goody Guillén, who was considered a possible head of the SEC in Trump’s second term. Her firm has so far received $290,000 from Binance and Zhao. These strategic moves highlight how important it is for companies to position themselves in the U.S. political landscape to gain regulatory advantages.
Zhao’s pardon is not only a personal victory for the Binance founder, but also a signal to the crypto industry that the Trump administration is taking a friendly stance towards digital currencies. This could have far-reaching implications for the regulation and growth of the industry, as companies could now rely more on policy support to protect and grow their business models.
*Order an Amazon credit card with no annual fee with a credit limit of 2,000 euros! a‿z
Bestseller No. 1 ᵃ⤻ᶻ “KI Gadgets”
Bestseller No. 2 ᵃ⤻ᶻ “KI Gadgets”
Bestseller No. 3 ᵃ⤻ᶻ “KI Gadgets”
Bestseller No. 4 ᵃ⤻ᶻ «KI Gadgets»
Bestseller No. 5 ᵃ⤻ᶻ “KI Gadgets”
Please send any additions and information to the editorial team by email to de-info[at]it-boltwise.de. Since we cannot rule out AI hallucinations, which rarely occur with AI-generated news and content, we ask you to contact us via email and inform us in the event of false statements or misinformation. Please don’t forget to include the article headline in the email: “Trump pardons Binance founder: influence of lobbyists in Washington”.
The post Influence of lobbyists in Washington appeared first on Veritas News.
