Trump Claims No Knowledge of Crypto Executive He Pardoned
Former President Donald Trump stated today he was unfamiliar with Changpeng Zhao, the billionaire founder of the cryptocurrency exchange Binance, despite granting him a pardon last month.
During an interview on CBS’s “60 Minutes,” Trump responded to a question about the pardon by saying, “I don’t know who he is.” He added, “My sons are into it… I’m glad they are, because it’s probably a great industry, crypto. I think it’s good.” When pressed, Trump reiterated, “I know nothing about the guy,” and claimed Zhao was a victim of the “weaponization” of the Justice Department. This pardon has raised questions about potential conflicts of interest, as Zhao’s company has business ties to a cryptocurrency firm co-founded by Trump’s sons, Eric and Donald Trump Jr.
Zhao, also known as “CZ,” pleaded guilty in 2023 to charges related to enabling money laundering at Binance and was sentenced to four months in prison. As part of the agreement, Binance paid $4 billion in fines and Zhao personally paid $50 million. The Justice Department had stated at the time that Zhao’s actions caused “significant harm to US national security.” The pardon comes amid ongoing scrutiny of presidential pardons, with Trump previously criticizing former President Joe Biden for potentially being unaware of actions taken by his staff, even suggesting the use of an autopen for signatures.
House Speaker Mike Johnson, when asked about Trump’s admission, stated he also had no knowledge of the situation. The pardon has drawn criticism from both sides of the aisle, including from outgoing Senator Thom Tillis, who called it a “bad signal.” This incident highlights the complex intersection of politics, cryptocurrency, and potential financial conflicts of interest. For more information on cryptocurrency regulations, see the Financial Industry Regulatory Authority’s guide.
A Biden spokesperson declined to comment, but pointed to previous statements questioning awareness of actions within a White House.
