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.

In a statement, White House press secretary Karoline Leavitt said Trump had "exercised his constitutional authority by issuing a pardon for Mr. Zhao, who was prosecuted by the Biden Administration in...