U.S. President Donald Trump recently stated that he does not know who Changpeng Zhao, the co-founder of cryptocurrency exchange Binance, is, despite having pardoned him last month. During an interview with CBS News’ 60 Minutes, Trump was questioned about the pardon in light of Zhao’s guilty plea for enabling money laundering in 2023, which resulted in a four-month prison sentence and his resignation as CEO of Binance.
Zhao, known as “CZ,” has been associated with companies that have collaborated on cryptocurrency initiatives with firms connected to Trump, including Dominari Holdings, which is located in Trump Tower. The 60 Minutes host, Norah O’Donnell, pointedly asked Trump about Zhao’s pardon, citing concerns raised by government prosecutors who indicated that Zhao’s actions had considerable implications for U.S. national security. Trump responded, “Okay, are you ready? I don’t know who he is,” asserting that he had never met Zhao and had only been informed that Zhao was a victim of a “witch hunt” associated with former President Joe Biden’s administration.
Trump expressed support for cryptocurrencies during the interview, emphasizing the need for the U.S. to lead in the sector to prevent advantages for competitors like China. The president’s pardon reinstated Zhao’s ability to operate financial ventures, though it is yet to be determined how this will influence his interactions with U.S. regulators or his position at Binance.
White House Press Secretary Karoline Leavitt defended the pardon as a response to what she described as the Biden administration’s overreach in prosecuting Zhao and characterized it as part of a broader “war on cryptocurrency.” She stated that the case had been carefully reviewed, and that the president acted within his constitutional rights. Additionally, Trump has previously pardoned other individuals connected to cryptocurrency, including those associated with BitMEX and Ross Ulbricht, who founded the Silk Road marketplace.
Source: https://www.bbc.com/news/articles/cn7ek63e5xyo?at_medium=RSS&at_campaign=rss